DRAIN peaches reserving juice. Add water to juice to make 3/4 cup; bring measured liquid to a boil.
POUR boiling liquid into blender container. Add jelly powder and blend at low speed until dissolved, about 1 minute.
ADD ice cubes and blend at low speed until ice is partialy melted. Add peaches and blend at high speed until ice is melted, about 30 seconds.
POUR into 6 dessert dishes. Chill until set, about 1 hour.
