Preheat oven to 350.
Lightly grease and flour a 25 cm tube pan and set aside.
In the bowl of an electric mixer set on medium speed, cream butter and sugar until light and fluffy. Add eggs, one at a time, beating well after each addition.
In a separate smaller bowl, combine sifted flour, soda and salt. Set aside.
Combine sour cream and chopped peaches in another small bowl.
Fold dry ingredients into creamed mixture alternately with sour cream and peaches, beginning and ending with dry ingredients. Stir in vanilla and almond extracts, if desired.
Pour batter into prepared pan and bake on middle oven rack for 65-75 minutes or until cake tests done. If should just release itself from the edge of the pan, be golden brown and spring back in the center when lightly touched.
Let cake cool in pan 10 minutes, then turn out onto rack to finish cooling.