Preheat the oven to 350°F. In a large mixing bowl, cream the butter and sugar together until light and fluffy. Add the almond extract and egg. Beat again until fluffy. Whisk together the dry ingredients and slowly add to the wet ingredients. Stir just until combined.
Add the chocolate chips and cherries and stir again to mix throughout the dough. Scoop into 1" balls onto a parchment or silpat lined baking tray. Bake for 10-11 minutes, until no longer shiny and slightly puffy. Remove from the oven before they are browned. Let cool on the trays for 1-2 minutes before transferring to a wire cooling rack to finish cooling. Store in an airtight container at room temperature. Enjoy!