Stir together first 5 ingredients; cover and let stand 30 minutes.
Beat butter at medium speed with an electric mixer 2 minutes or until creamy. Gradually add sugar, beating 5 to 7 minutes or until blended. Add eggs, 1 at a time, beating just until yellow disappears.
Stir together flour, baking powder, and salt; remove 1/2 cup flour mixture. Gradually add remaining flour mixture to butter mixture, beating at low speed just until blended after each addition. Stir in lemon and orange rind.
Drain raisin mixture, and stir in cherries. Toss raisin mixture with reserved 1/2 cup flour mixture, and fold into batter. Spoon batter into 2 lightly greased 8- x 4-inch loafpans.
Bake at 325° for 45 minutes to 1 hour or until a wooden pick inserted in the center comes out clean. Brush hot cakes evenly with Orange-Bourbon Glaze until absorbed. Cool in pans 10 minutes; invert cakes onto a wire rack, and cool completely. (Wrap and freeze up to 1 month, if desired.)