1Heat coals or gas grill for direct heat. In 1-quart saucepan, heat preserves, lime juice, chile and adobo sauce over low heat, stirring occasionally, until preserves are melted. Stir in chopped cilantro; set aside.
2Sprinkle each beef steak with garlic-pepper blend, cumin and salt. Cover and grill beef over medium heat 15 to 18 minutes for medium doneness, turning once or twice and brushing top of beef with preserves mixture during last 2 minutes of grilling. 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 beef and peaches. Garnish with cilantro sprigs.