Cream butter & sugar, add eggs & vanilla. Beat until smooth. Blend in flour, baking soda & salt. Stir in walnuts and cherries.
Separate into 2 balls and roll into logs and chill. Cut 1/4 to 1/2 inch thick. Bake in a preheated 350 degree oven on ungreased cookie sheet for 8 to 10 minutes, or until light golden brown. Do not overbake. Transfer to wire racks to cool.