Preheat oven to 350F (180C). Prepare loaf pan.
Combine flour, sugar, baking powder and salt.
Beat together eggs and oil. Beat in milk and almond extract. Stir in cherries.
Add liquids to dry ingredients all at once and stir just until combined; batter will be thick.
Spread the batter into loaf pan. Bake for 55-60 minutes or until toothpick inserted in centre comes out clean.
Cool in pan for 30 minutes then remove from pan and cool completely on wire rack.
Combine icing ingredients together until mixed thoroughly. Ice loaf when cooled.
NOTE: This loaf is easer to slice and more flavourful on the second day.