Drain peaches, reserving juice. Add enough water to juice to measure 1-1/4 cups. Cut peaches into 1-in. pieces; set aside.
In a large bowl, beat the cake mix, peach juice mixture, oil and eggs on low speed for 30 seconds. Beat on medium for 2 minutes. Pour into two greased and floured 9-in. round baking pans. Bake at 350° for 28-33 minutes or until a toothpick inserted near the center comes out clean. Cool in pans for 10 minutes before removing to wire racks to cool completely.
In a bowl, combine the whipped topping and yogurt; fold in reserved peaches. Spread topping between layers and over top of cake. Garnish with additional diced peaches if desired. Store in refrigerator.
Recipe by STOCKPILING MOMS™ at http://www.stockpilingmoms.com/2012/05/peach-cake-recipe/