Melt butter in a large skillet over medium-high heat. Add peaches and cook for 2 minutes, stirring frequently.
Add brown sugar, cinnamon and dried cherries. Cook for 5 minutes until brown sugar is melted and sauce is desired consistency. Stir frequently.
To serve, scoop ice cream into individual serving dishes. Spoon peach sauce over ice cream. Crumble pie crust over sauce.
Place a refrigerated rolled pie crust on a large baking sheet, keeping the dough a flat disk shape. Prick dough with fork in several places. Brush dough with a little milk or cream and sprinkle with cinnamon-sugar. Bake at 450 degrees for about 10 minutes, until golden brown. Let cool on baking sheet before using for Peach Pie Sundaes. Dried cherries can be found in some grocery stores and natural food stores. In this recipe, the cherries can be replaced with the same amount of dried cranberries or blueberries.