Drain and halve cherries; reserve juice for Cherry Glaze.
In a large mixing bowl, stir together 3 cups of the flour, sugar, yeast and salt.
In a small saucepan, heat milk and 1/3 cup butter to 120 degrees F; stir in egg. Stir in flour mixture to form a ball.
Turn out on a prepared pastry cloth and knead, adding only enough of the remaining flour to form a soft dough until smooth and satiny (5 to 10 minutes).
Cover and let rest for 30 minutes.
With a rolling pin, roll dough to an 18x15-inch rectangle. Brush with remaining melted butter to within 1/2-inch of edges. Arrange cherries over buttered dough. Roll up from 18-inch side; pinch edges to seal. Cut into 20 slices.
Pour Cherry Glaze into a 13x9x2-inch pan; sprinkle with almonds. Place slices cut side down over Cherry Glaze. Let rise until double in bulk, 30 minutes. Bake in a preheated 375 degree F oven until golden brown, about 30 minutes.
Cool 5 minutes; invert on a serving platter. Let stand 1 minutes; remove pan.