Combine 3/4 cup flour, sugar, undissolved yeast and salt in a large mixing bowl. Heat sour cream, water and butter until very warm (120° to 130°F). Gradually add to flour mixture. Beat 2 minutes at medium speed of electric mixer, scraping bowl occasionally. Add egg and 1 cup flour; beat 2 minutes at medium speed. Stir in enough remaining flour to make a stiff batter. Cover; let rest 10 minutes.
Transfer dough to lightly floured surface. Roll to a 15- x 10-inch rectangle. Spread with almond filling; sprinkle with the cherries. Beginning from long end, roll up tightly as for jelly roll. Pinch seam and end to seal. Place roll on greased baking sheet. Cover; let rise in warm draft-free place until doubled in size, about 1 hour.
With sharp knife, make 6 X-shaped cuts across top of loaf. Bake at 375°F for 20 minutes or until done. Remove from sheet; cool on wire rack. Drizzle with Cherry Glaze while warm. Sprinkle with almonds.
To make Cherry Glaze, combine powdered sugar, cherry syrup and almond extract in a small bowl. Stir until smooth.