Step 1Cream butter with sugar until light and fluffy. Add eggs and blend well. Add milk, vanilla and almond extracts. Stir in flour, baking powder and salt to make a smooth batter, making sure bottom of batter is well combined. Fold in cherries.
Step 2Spoon batter into 8x4-inch loaf pan coated with nonstick cooking spray. Top with cherry halves if desired, pressing lightly into cake batter. Bake at 350 degrees until golden and toothpick inserted in middle comes out clean, 50 to 60 minutes. Cool on rack 10 minutes before removing from pan.