Preheat the oven to 375 degrees F.
Unroll the pie crust on a large baking sheet. Place the peach slices in the center of the crust, leaving a 2-inch border around the edge. Sprinkle the cherries over the peaches, and then top with the sugar and cinnamon. Pull up the sides of crust slightly and roll over towards the center, covering the filling by 1 to 2 inches. Bake until the crust is golden brown, about 20 minutes. Serve warm or at room temperature.