In a large bowl, cream sugar and butter. Add eggs, one at a time, beating well after each addition. Blend in extract. Combine dry ingredients; blend into creamed mixture alternately with the buttermilk. Stir in almonds and cherries. Pour into a greased and floured 9x5-in. loaf pan. Bake at 350° for about 70 minutes or until loaf tests done. Remove from pan and cool on a wire rack.