Heat a large cast-iron skillet over high heat. Sprinkle steaks evenly with salt and pepper. Add oil to pan; swirl to coat. Add steaks; cook 4 minutes. Turn steaks over; bake at 425° for 5 minutes or until desired degree of doneness. Remove steaks from pan.
Heat skillet over medium-high heat. Add shallots; sauté 2 minutes or until just tender, stirring frequently. Add cherries and star anise; cook 1 minute. Add wine, bring to a boil, and cook 3 minutes or until slightly thickened. Discard star anise. Stir in butter. Spoon sauce over steaks.
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