Heat oven to 375°F. Place butter in ungreased 13x9-inch pan. Place in oven until butter is melted. Remove from oven.
Meanwhile, in large bowl, combine quick bread mix, 1 tablespoon of the orange peel, 1 cup reserved peach liquid and egg; stir 50 to 75 strokes with spoon until mix is moistened. Drop mixture by spoonfuls over butter in pan; spread slightly without stirring. Arrange peaches over mixture. Sprinkle with cranberries.
In small bowl, combine sugar and remaining tablespoon orange peel; mix well. Sprinkle over fruit.
Bake at 375°F. for 50 to 55 minutes or until edges are deep golden brown. Cool 20 minutes. Serve warm. If desired, serve with vanilla ice cream.