(If you havent toasted the pecans, now is the perfect time to do it while the oven is preheating. Just spread them in a single layer on a baking sheet and place in the oven for 5-6 minutes or until you can smell them toasting.) Grease and flour a 12 cup bundt pan.
Mix on low speed for 1 minute the cake mix, pineapple and juice, bananas, water, oil, eggs, vanilla and cinnamon.
Stop mixer and scrape down, then mix at medium speed for 2 minutes more.
Stir in by hand the cherries and 1/2 cup nuts.
Batter will be thick and fruit well blended.
Pour into bundt pan.
Bake on middle rack for 50-60 minutes.
Cake will be golden and spring back when touched.
Cool in pan for 20 minutes then invert and cool completely.
Make the cream cheese frosting.
Mix the cream cheese and butter on low 30 seconds.
Add the sugar, slowly still at low speed until well blended.
Add vanilla, increase to medium and beat 1 minute.
Frost cooled cake and sprinkle with the remaining 1/2 cup pecans.