Step 1

Beat cream cheese, sweetened condensed milk and vanilla until smooth.

Step 2

Fold in whipped cream and refrigerate about 1 hour before preparing the other layers,

Step 3

Dice cake and set aside.

Step 4

Wash, peel and dice peaches into approximately 1/2 inch sized pieces. Add the lemon juice and toss gently to coat.

Step 5

Layer in individual dishes beginning with cake, then peaches and cream layer. Repeat until dish is as full as desired.

Step 6

Refrigerate until time to serve.