1/2 cup butter or margarine, softened
In a mixing bowl, cream butter and sugar. Beat in eggs, one at a time. Beat in milk. Combine flour, baking powder and salt; add to the creamed mixture. Stir in peaches and blueberries.
Pour into a greased and floured 10-inch flted bundt pan. bake at 350 degrees for about an hour or until toothpick inserted near the center comes out clean. Cool in pan for 15 minutes; remove to wire rack to cool.
Drizzle with confectioners' sugar mixed with a little milk over the cake, if desired.