1Heat gas or charcoal grill. In 1-quart saucepan, mix preserves, lime juice, chile and adobo sauce. Heat over low heat, stirring occasionally, until preserves are melted. Stir in chopped cilantro; set aside. Sprinkle chicken with garlic-pepper blend, cumin and salt.
2Place chicken on grill. Cover grill; cook over medium heat 15 to 20 minutes, turning once or twice and brushing with preserves mixture during last 2 minutes of grilling, until juice of chicken is clear when center of thickest part is cut (170°F). Add peach halves to grill for last 2 to 3 minutes of grilling just until heated.
3Heat any remaining preserves mixture to boiling; boil and stir 1 minute. Serve with chicken and peaches. Garnish with cilantro sprigs.