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Preheat the oven to 325 degrees F. Grease and flour a 10 or 12 cup bundt pan. Sprinkle 1/2 cup chopped pecans in the pan and set aside.
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In a small bowl, combine 2 cups flour, baking powder, and salt. Whisk to combine and set aside.
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Spread the chopped maraschino cherries between paper towels to dry.
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In a large bowl, add the cream cheese, butter, sugar, and vanilla. Beat using an electric mixer on high speed until light and fluffy, about 5 minutes. Scrape down bowl as needed.
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Add the eggs, one at a time, mixing well after each addition.
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Gradually add 2 cups of all-purpose flour mixing on medium speed until just combined. Do not over-mix.
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In a small bowl, add the cherries, remaining 1/2 cup pecans, and 1/4 cup flour. Stir to coat cherries and pecans with flour. Fold mixture into batter.
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Pour batter into prepared pan and bake for 60 to 65 minutes, or until a toothpick or cake tester inserted into the center comes out clean.
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Cool cake in the pan for 10 minutes. Remove cake from pan by inverting it onto a cooling rack. Cool cake completely. Garnish with pecans and cherries. Slice, serve, and enjoy!