Beat butter, sugar, eggs and extract in large bowl on low speed of stand mixer or electric mixer until blended, then on high speed 5 minutes until light and fluffy.
Add dry ingredients alternately with milk/ evaporated milk to creamed mixture, mixing lightly after each addition.
Cover loosely with foil; continue baking 10-15 minutes, until toothpick inserted in centre comes out clean.
Variation: Chocolate Chip Pound Cake: Omit almond extract and use regular or miniature chocolate chips instead of cherries.
*Adapted from http://www.robinhood.ca/Recipes/Occasions/Canada-Day/Cherry-Pound-Cake