Directions

1. Combine water and yeast in a small bowl and let rest for 5 minutes. Combine milk and butter and heat until warm but butter won't be melted. (100° to 110°F). Pour into a large mixer bowl along with sugar, egg and egg yolks, salt, 2 cups flour and yeast mixture. Beat on low for 2 minutes. Add enough remaining flour to make a soft dough. Turn out onto a lightly floured surface and knead 6 to 8 minutes until smooth and elastic. Place in a greased bowl, turning once to coat. Cover and let rise in a warm, draft-free area for about 1 hour or until doubled.
2. Punch dough down. Press into a greased 14-inch deep dish pizza pan. Cover loosely with greased plastic wrap and let rise 1-1/2 to 2 hours until doubled.
3. Slice peaches and toss with almond extract. Lightly brush dough with honey, sprinkle with graham cracker crumbs. Arrange peach slices on top. Combine sugar and nutmeg; sprinkle over peaches.
4. Bake in a preheated 350°F oven for 25 to 30 minutes. Let cool for 30 minutes. Mix all icing ingredients together until smooth; drizzle over cooled coffee cake.