Cream butter and sugar until fluffy. Beat in eggs, one at a time.
Sift together dry ingredients and add them to butter/sugar mixture alternately with milk. Stir in almond extract, then gently fold in almonds and cherries.
Spoon muffin batter into 12 greased muffin cups; cups will be quite full. Sprinkle each muffin with a little granulated sugar, and bake in a preheated 375°F oven for 30 minutes, or until muffins test done.