Bring first 7 ingredients to a boil in a saucepan over medium heat. Reduce heat; simmer, stirring occasionally, 10 minutes or until sugar dissolves.
Combine cornstarch and water, stirring until smooth. Add cornstarch mixture to cherry mixture, stirring constantly.
Bring mixture to a boil over medium heat; boil, stirring constantly, 1 minute. Remove from heat; stir in pecans. Cool; store in refrigerator up to 1 week. Serve with roasted pork, turkey, chicken, or baked ham.
