Drain peaches; reserve 24 slices, chop the rest. According to instructions, prepare batter from the ½ package of cake mix, stir in chopped peaches.
Pour into a greased 8x8x2-inch pan. Bake at 350°F. for 45 to 50 minutes.
Cool slightly; remove the cake from the pan.
Break up jelly with a fork; spread on top of warm cake and arrange peaches and cherries on top to the desired pattern. Serve with ice cream.