1. Pour the yeast over the warm water and allow to sit for 5 minutes or until bubbly.
2. Meanwhile, scald the milk by adding it to a saucepan over medium heat. Whisk constantly, allowing bubbles to appear on the sides. Once bubbles appear in the center, remove from the heat and allow to cool
3. Add ¼ cup of sugar, melted butter and salt to the yeast mixture. Pour into a mixing bowl with the dough hook attached. Add the scalded milk and egg to the mixer and start the mixer on low.
4. Add flour 1 cup at a time until a dough begins to form. Use a rubber spatula sprayed with cooking spray to pull dough away from the side of the bowl. Increase the speed of the mixer to medium and mix until a slightly sticky dough has formed.
5. Turn out the dough onto a lightly floured surface and knead for 3 minutes. Transfer the dough to a lightly oil bowl, turn over once to coat and cover with a clean kitchen towel. Allow to rise for 1 hour in a warm place, or until dough has doubled in size.
6. Punch down dough and allow to rise for another 30 minutes.
7. Preheat the oven to 375. Spray a 9x13 baking dish with non-stick cooking spray.
8. After the last rise of the dough, press into the prepared baking dish, making sure the dough reaches the edges. Prick dough with a fork to make sure it will not rise too much.
9. Arrange the peach slices in overlapping layers on top of the dough, leaving ¼ inch or less of a border.
10. Sprinkle peaches with the remaining ½ cup of sugar.
11. Bake for 25-35 minutes or until the dough is lightly browned and cooked through. Transfer to a wire rack.
12. Mix jam flavor of your choice with 1 teaspoon of water and brush on top of the peaches. Sprinkle with the cinnamon. Allow cake to cool for at least 30 minutes before slicing.