**Preheat Oven:** Preheat your oven to 350°F (175°C). Grease and lightly flour a 9x5-inch loaf pan or line it with parchment paper.
**Prepare Dry Ingredients:** In a large bowl, whisk together the flour, baking powder, and salt. Set aside.
**Cream Butter and Sugar:** In another large bowl, cream the softened butter and granulated sugar until light and fluffy. Beat in the eggs one at a time, then add the almond extract.
**Combine Wet and Dry Ingredients:** Gradually add the dry ingredients to the wet mixture, alternating with milk. Begin and end with the dry ingredients. Mix until just combined.
**Fold in Cherries and Almonds:** Gently fold in the cherries and sliced almonds, being careful not to overmix.
**Bake:** Pour the batter into the prepared loaf pan and smooth the top. Bake for 50–60 minutes, or until a toothpick inserted into the center comes out clean.
**Cool:** Let the bread cool in the pan for 10 minutes, then transfer it to a wire rack to cool completely.
**Make the Glaze:** In a small bowl, whisk together powdered sugar, almond extract, and milk until smooth. Drizzle over the cooled bread.
**Serve:** Slice and enjoy!