Spray an 9 X 13-inch baking dish with cooking spray.
Place half of the bread cubes into the prepared baking dish and evenly distribute half of the peach pieces and half of the cream cheese cubes. Place the remaining bread cubes on top along with the remaining peaches and cream cheese.
In a medium bowl, whisk together eggs, milk, cream, sugar, vanilla and the 1/2 teaspoon cinnamon. Evenly pour mixture over the bread and peaches.
Cover with plastic wrap and place into refrigerator to sit overnight.
In a medium bowl, combine flour, brown sugar, and teaspoon cinnamon. Mix thoroughly. Cut butter into small pieces and with a pastry cutter or two forks, blend butter into mixture until it resembles coarse meal.
Place mixture into a plastic bag. Seal and refrigerate overnight. This step can also be done in the morning before placing baking dish into the oven.
When ready to bake the next morning...
Preheat oven to 350°F. Uncover the baking dish and sprinkle the butter mixture evenly around the top. Bake uncovered for 45 -- 55 minutes. 45 minutes will give you a softer, slightly unfinished middle whereas 55 minutes will be firmer.