Preheat oven to 350 degrees F.
Spray an 8" round pan with baking spray. Set aside.
Whisk together flour, baking soda, and baking powder. Set aside.
With an electric mixer, beat butter and sugars together until light and fluffy.
Beat in eggs, one at a time.
Stir in vanilla.
Add flour mixture alternately with buttermilk, beginning and ending with flour mixture.
Place 2/3 of batter into prepared pan and level.
Spread batter with peach preserves.
Top with remaining batter.
Sprinkle streusel on top.
Bake for 45-50 minutes, or until cake tests done.