Place peaches in a bowl; pour orange juice over and set aside.
Combine 1-1/4 cups flour, undissolved yeast, sugar and salt in mixing bowl. Drain peaches, reserving orange juice. Heat milk, orange juice drained from peaches and butter to very warm (120° to 130°F). Add to flour mixture with egg. Beat on low speed for 30 seconds; increase to medium speed and beat for 2 minutes. Beat in remaining 1 cup flour.
Press dough into greased 13 x 9-inch pan. Top evenly with peaches. Combine brown sugar, flour and cinnamon in bowl. Cut in butter using a pastry blender or two knives until mixture resembles course crumbs. Add pecans; sprinkle over peaches. Cover with plastic wrap sprayed with cooking spray. Let rise in warm draft-free place until doubled, about 45 to 60 minutes.
Bake in preheated 375°F oven for 25 to 30 minutes until golden brown. Cool for 10 minutes.
Combine all Vanilla Glaze ingredients and drizzle over cooled coffee cake.