Preheat Oven: Preheat your oven to 350°F (175°C). Grease and flour a Bundt pan,making sure to cover all the crevices to prevent sticking.
Mix Dry Ingredients: In a medium bowl, whisk together the flour, baking powder, baking soda, and salt. Set aside.
Cream Butter and Sugar: In a large bowl, using an electric mixer, beat the butter and granulated sugar together on medium speed until light and fluffy, about 3-4 minutes.
Add Eggs and Extracts: Add the eggs, one at a time, beating well after each addition. Mix in the vanilla and almond extracts.
Combine Ingredients: Gradually add the dry ingredients to the butter mixture, alternating with the sour cream, beginning and ending with the dry ingredients. Mix until just combined.
Fold in Cherries: Gently fold in the chopped cherries until evenly distributed throughout the batter.
Bake: Pour the batter into the prepared Bundt pan and smooth the top with a spatula.Bake in the preheated oven for 50-60 minutes, or until a toothpick inserted into the center comes out clean.
Cool: Allow the cake to cool in the pan for about 15 minutes, then invert it onto a wire rack to cool completely.
Optionally, dust with powdered sugar before serving.