Step 1

In a small bowl stir together paprika, onion powder, garlic powder, lemon- pepper, cumin, crushed red pepper, salt, and black pepper. Rub onto both sides of steaks.

Step 2

Grill steaks on rack of a covered grill directly over medium coals (for medium-rare, grill 10 to 13 minutes), turning once. Cover; let stand 5 minutes.

Step 3

Grill peaches 5 minutes, turning once.

Step 4

Meanwhile, in a large bowl combine balsamic vinegar, snipped thyme, butter, sugar, and 1/2 tsp. black pepper. Add peaches; toss. Serve with steak; top with thyme sprigs.