Growing a Peach Tree from a Pit?

I recently was given a beautiful peach; it was sooo good. I really want to plant the pit in some soil and grow the pit into a beautiful peach tree someday. But, don't know that it will happen that way. How would I do that? Can I put the pit into soil and water it as necessary and someday get a peach tree?

Please advise me, thanks for all your help folks! :-D

By Pati