Preheat oven to 350 degrees F.
Add the peaches, sugar, cinnamon, vanilla, and lemon juice to a sauce pan. Stir to coat the peaches. Bring to a boil and let cook for 1-2 minutes. Remove from heat and set aside.
To a bowl, add the flour, baking powder, sugar, cinnamon, and salt. Whisk to combine. Add the milk and egg. Whisk until it creates a smooth batter.
Add the melted butter to the baking dish. Pour the batter directly on top of the butter, making sure to NOT STIR IT.
Spoon the peaches and their juices on top of the batter.
Bake for 40-45 minutes, or until the middle is set and the top of golden. Serve with vanilla icecream or whipped cream, if desired.