Remove the pits from the apricots by gently tearing the fruit in half. Add the pitted apricot halves, sugar, vanilla bean seeds and pod, lemon zest, lemon juice and water to a medium saucepan and stir gently to combine.
Cook the mixture on medium low heat until the sugar dissolves and the apricots begin to release their juices. Turn the heat up to medium and gently simmer the apricots, stirring occasionally, until they are very soft and beginning to fall apart, but not completely mushy. About 10-15 minutes. Taste the apricots and add a bit more sweetener if desired.
Remove the vanilla bean pod and reserve it for another use, remove the strip of lemon zest and serve the apricots warm or cold. If there are any leftovers, store them in the fridge.