Mix together the first amount of flour, baking powder, and salt; set aside.
In a large bowl, cream together the butter, cream cheese, and sugar until light and fluffy.
Beat in the eggs one at a time, then stir in the vanilla and almond extract.
Beat in the flour mixture, mixing just until incorporated.
Dredge cherries in remaining 1/4 cup flour, then fold into batter.
Spread into prepared pan.
Bake in the preheated oven for an hour to 80 minutes, or until a toothpick inserted into the center of the cake comes out clean.
Let cool in pan for 10 minutes, then turn out onto a wire rack and cool completely.