In a large mixing bowl, combine flour, sugar, baking powder, salt and pecans. In a second bowl, combine the cooled, melted butter or margarine with the egg, milk and extracts. Mix well.
Pour the liquid ingredients into the dry ingredients and beat or mix just until combined. Fold in the chopped cherries.
Pour the batter into a greased loaf pan and bake at 350 degrees for 60-75 minutes, until a toothpick inserted in the center comes out clean. Cool on a wire rack and then remove bread from pan.
Notes
If desired, you can top the loaf with a simple powdered sugar glaze. Also, you can replace all or some of the pecans with chocolate chips.