• In small bowl, combine water, yeast and sugar. Set aside for 10 minutes.
• Warm milk in microwave for 2 minutes. In a large bowl or heavy mixer combine milk, softened butter, salt and sugar. Mix together until butter is melted.
• Add eggs one at a time and 3 cups flour. Mix for 2 minutes.
• Add yeast mixture and 2 cups flour. Mix well. Let dough sit for 10 minutes. If using a standing mixer, now is the time to change to a dough hook.
• Continue to mix while slowly adding remaining 2 1/2 cups flour. Dough will start pulling away from the sides of the bowl, but is still quite sticky. Beat 3 more minutes.
• Coat another large bowl with 2 tablespoons oil. Take dough out of mixing bowl and place in oiled bowl, turning over once to coat each side.
• Place clean towel over bowl and let raise in a warm spot for 45 minutes.
• After 45 minutes, put dough out onto floured surface. Knead by hand, adding a little flour if needed. DO NOT USE TOO MUCH FLOUR! You want dough to remain very soft!
• With rolling pin, roll dough into a rectangle shape about the size of a jelly roll pan (11x15 inch) and 1/2 inch thick. Melt 1/3 cup butter in microwave for 30 seconds or until just melted. Spread over dough. Sprinkle 1/4 cup sugar and 3/4 cup brown sugar over butter.
• Arrange peach slices evenly over the dough and sprinkle evenly with cinnamon and almonds (optional).
• Roll up starting with the long side; pinch seam to seal. Cut into 1 inch rolls and place on greased cookie sheet. Cover and let rise another 45 minutes. Bake at 350 degrees for 16-20 minutes or until lightly browned. Cool for 10 minutes before frosting.

For the frosting:

• In a medium bowl, mix cream cheese, butter, almond extract and vanilla until smooth. Slowly add powdered sugar until desired consistency is reached. Spread over warm cinnamon rolls.