Using an electric mixer, slowly stir in canola oil.
Mix until all lumps are gone and mixture is a uniform texture, about 1 minute (You've just made a scratch "box" of Original Bisquick Baking Mix; If you scale recipe down, you can store excess mix in an airtight container.).
If you're feeling lazy, you may skip those steps and just get a box of Bisquick.
Add milk and eggs to baking mix. Mix well.
Add cherries. Blend until batter is smooth and bright pink. If needed, you may adjust the thickness of you batter by adding a tablespoon of milk or flour at a time, and mixing well.
Pour 1/4 cup of batter onto hot, greased griddle. For Silver Dollars, pour tablespoons of batter onto griddle.
Cook until pancake starts to bubble & edges are slightly dry. Turn; and cook until golden.