Combine first 4 ingredients in large glass mixing bowl. Microwave on high for 10 minutes. Stir until sugar dissolves. Add peach halves to syrup and microwave on high for 4 minutes. Refrigerate covered overnight.

1/2 cup ricotta cheese
1/4 cup neufchatel (low fat) cream cheese
3 tablespoons confectioners sugar
1 1/2 teaspoons lemon rind
1/2 teaspoon vanilla

Beat all ingredients together, cover and refrigerate.

When ready to serve, place peach halves on serving plate cut side up. Spoon mousse into pit cavity and sprinkle with nutmeg.