This is really a sour cream pound cake, studded with cherries, so it is festive and beautiful when you slice it. It's delicious with coffee. Note the long beating times -- they give the cake its fine-crumbed texture.
Mix the flour, baking powder and baking soda together.
Beat the butter and sugar in a mixing bowl until light and fluffy. Add the eggs and vanilla and beat for 3 minutes. Beat in the dry ingredients. Add the sour cream and beat for 3 minutes. Fold in the cherries.
Pour into a greased 9-inch tube pan. Bake at 350 degrees for 60 to 70 minutes or until the cake tests done. Check after 30 minutes of baking and cover with foil if browning too quickly. Cool in the pan for 10 minutes. Remove and cool completely.