Grease bottoms only of 24 miniature (1 3/4x1-inch) muffin cups or 12 regular-size muffin cups with shortening or cooking spray, or line with paper baking cups.
In medium bowl, beat granulated sugar, butter, milk and egg with fork or wire whisk until well blended. Stir in flour, baking powder and salt just until flour is moistened. Fold in cherries and almonds. Divide batter evenly among muffin cups (cups will be full).
Bake 10 to 15 minutes or until golden brown.
Meanwhile, in small bowl, mix glaze ingredients until smooth and thin enough to drizzle. Immediately remove muffins from pan to cooling rack. Drizzle glaze over warm muffins. Serve warm if desired.