Preheat the oven to 350°F.
Beat the butter and the sugar together until light and fluffy.
Add the almond extract and mix.
Add the flour and mix well.
Fold in the nuts and cherries.
Roll 1 1/2 inch balls and flatten. Place on parchment paper-lined baking sheet.
Bake for 15-18 minutes, or until golden in color.
Sieve powdered sugar over the cookies while still warm and again after they cool.
Store in a covered container.
Makes about 12 cookies, depending on the size of the cookie.
Note: You can also make these cookies as small bite-sized balls. Just roll the dough into balls and bake until golden. While still warm, roll the balls in powdered sugar. Store in a covered container. When ready to serve, roll again in powdered sugar for a sweet and pretty presentation.