Rinse peaches under cool water.
Combine peaches and 3 cup (750 mL) of the water in a saucepan.
Cook until tender; then remove peaches, cool, and cut into pieces.
Continue cooking peach water until reduced to about 1 cup (250 mL); then return peaches to pan.
Meanwhile, prepare pudding mix as directed on package.
Allow to thicken for 10 minutes.
Add hot peaches and peach juice.