Peach Jam Ice Dream

1 cup water
1/2 (one-half) cup sugar
3/4 (three-quarter) cup peach jam
1/4 (one-quarter) cup orange marmalade
1 1/2 (one and one-half) cups cranberry juice cocktail

In a medium sauce pan over medium heat, stir together water and sugar until sugar is dissolved. Add jam and marmalade, stirring to blend until melted. Stir in cranberry juice cocktail. Place mixture in a 9 ? 9-inch metal baking pan and freeze for 30 minutes. Remove pan from freezer. Using a spoon, mound mixture into the center of the pan; stir mixture briefly with a wire whisk to aerate. Return pan to freezer for another 20 minutes, then whisk again. Repeat freezing and whisking process every 20 minutes for a total of 2 1/2 (two and one-half) hours. Cover tightly with plastic wrap and freeze until serving. Yields eight one-half cup servings.