Drain cherries, reserving 1 cup juice. Chop cherries.
Stir together gelatins and 2 cups boiling water until dissolved. Stir in reserved juice, sugar, port, and lemon juice. Stir in cherries.
Pour half of gelatin mixture into a lightly greased 10-cup ring mold or Bundt cake pan. Chill 2 hours or until almost set.
Stir together remaining gelatin mixture, cream cheese, and pecans, blending well. Pour over slightly set gelatin mixture in mold. Chill 6 hours or until firm. Garnish, if desired.