Preheat oven to 350 degrees F. and line a 18x13 inch jelly roll pan with parchment or a silpat liner.
In a stand or electric mixer, mix the cake mix, milk, eggs, vegetable oil, sour cream, pudding mix, and peanut butter until well combined, about 2 minutes. Pour cake batter into prepared pan spreading evenly.
Heat jelly in a microwave safe bowl until loosened, about 30 seconds. Drizzle over batter then run a knife carefully through to swirl. Bake for 22-26 minutes, until baked through.
While cake is still warm, prepare icing by whisking powdered sugar and heavy cream until smooth and a nice drizzling consistency. Drizzle over cake. You can serve warm or let icing set and refrigerate to serve chilled. Store leftover cake pieces in refrigerator.