Preheat oven to 300°.
Combine first 6 ingredients in a large bowl. Beat with a mixer at low speed until combined. Beat at medium speed 2 minutes. Stir in cherries and nuts.
Spoon 1 level tablespoon batter into miniature muffin cups coated with cooking spray. Bake at 300° for 16 minutes or until puffed and crisp on top. Let stand 2 to 5 minutes before removing from pan. Cool on a wire rack. Note: Store in an airtight container up to 2 days.