1. Combine flour, baking powder, salt, pudding mix, egg and milk in large bowl. Beat 2 minutes at medium speed. Pour into greased 9 or 10" pie pan. Place drained peach slices over batter.
2. Combine cream cheese, 1/2 c sugar and 3 T reserved syrup; beat 2 minutes. Spoon to within 1 " of edge of batter. Sprinkle top with sugar and cinnamon.
3. Bake at 350 degrees for 30-35 minutes.