Prepare the Peaches: Bring water to a boil in a large sauce pot. Cut an “x” in the bottom of the peaches and add to water. Cook for 60 seconds* and use a slotted spoon to immediately transfer peaches to a bowl of ice water to prevent from cooking further. Let cool. Peel and halve the peaches then remove pits. Roughly chop the peaches and place them in a large nonreactive bowl. Add lemon juice and stir to coat. Set aside.
Make the BBQ Sauce: Heat oil in a large saucepan over medium-low heat. Add the onion and cook, stirring occasionally, until translucent, about 8-10 minutes. Add the garlic and ginger. Cook until fragrant, about 1 minute. Stir in the peaches, sugar, vinegar and stock. Bring to a boil over high heat and immediately reduce heat to medium-low. Simmer, stirring occasionally, until the peaches are tender, about 25-30 minutes. Add remaining BBQ sauce ingredients and continue to simmer, stirring occasionally, for an additional 10 minutes. Let cool slightly. Use an immersion blender, or transfer to a blender, and puree. Taste and adjust for seasoning and spice, adding more sriracha if desired. Let cool and store in the refrigerator, covered, until ready to use.
Meanwhile, Prepare the Ribs: Rinse ribs in cool water to remove any film from packaging. Remove the membrane from the underside of the ribs – insert a butter knife under the membrane, and using your fingers, tear/peel membrane from ribs and discard. Trim any excess fat from both sides of ribs.
Apply the Rub: In a small bowl mix together all ingredients for dry rub. Coat the ribs with a thin layer of water and generously apply rub to both sides of ribs. Triple wrap the ribs in aluminum foil tightly to prevent leakage, being careful not to puncture foil.
Prepare the Grill: Put about half a chimney of unlit coals and top with another half a chimney of fully lit coals in your grill. Heat grill to 300 degrees F.
Grill: Put the aluminum wrapped ribs on the grill, directly over heat with meaty side facing up. Grill for 1 ½ hours. Remove foil and discard. Test ribs for doneness, using the “bend test”. Pick up a slab with tongs and bounce it gently, if the surface cracks, the ribs are done.
Apply BBQ Sauce: Return ribs to grill, meaty side down and use a brush to generously apply BBQ sauce to top of ribs. Grill for 5 minutes. Flip ribs over (so meaty side is facing up) and continue to grill for 5-10 minutes, generously brushing with BBQ sauce.
Remove ribs from grill and serve with additional BBQ sauce on side.
*You can substitute ¾ pound of frozen peaches, defrosted for fresh peaches. *If peaches are hard to peel after being poached in boiling water, return to water and continue to poach an additional 60 seconds, returning to ice water bath to stop cooking.