Beat cream cheese at medium speed of a mixer until smooth. Gradually add the sugar, beating until blended. Gently fold in whipped topping.
Place half of cake cubes in a large glass bowl; top with half of cheese mixture. Spread half of cherry filling over cheese mixture. Repeat layers with remaining cake cubes, cheese mixture, and cherry filling. Cover and chill.
My husband and I loved this recipe. If you have angel cake on hand, it couldn't be simpler. I ended up making an angel cake, but I think that added a nice touch so it was worth the effort. Highly recommend, although I agree with other reviewers that more cherries would be nice.