Preheat oven to 350 degrees. Lightly grease and flour a 9x5-inch loaf pan; set aside.
Remove cherries from the jar, reserve liquid. Place cherries on a cutting board and roughly chop them. Sprinkle with 2 tablespoons flour (this prevents them from sinking during baking) toss to coat evenly; set cutting board aside. Set jar with the cherry liquid aside.
In a large mixing bowl, stir together 1 3/4 cups flour, sugar, baking powder and salt; set aside.
In a small mixing bowl, whisk together oil, 1/4 cup reserved cherry liquid, almond extract, and vanilla extract.
Pour wet mixture over dry ingredients and stir to combine; don't over mix. Batter will be very thick. Lightly fold in the chopped cherries, reserving a few to place on top.
Pour batter into the prepared pan, smoothing the top lightly with a spatula. Strategically place a few cherries on top for visual appeal.
Bake for about 40 minutes, or until bread is domed and springy to the touch. Allow bread to cool in the pan for about 15 minutes before removing; finish cooling completely on a rack. While bread cools, make the glaze.
CHERRY ALMOND GLAZE: In a medium bowl, combine 1/4 cup reserved cherry liquid, almond extract, about 1 cup confectioners' sugar, whisk to combine until smooth and satiny. Add more sugar until desired consistency is reached.
Glaze the bread prior to serving. Spread left-over glaze like butter on the interior of the slices. Bread will keep airtight at room temp for up to 5 days or in the freezer for up to 6 months.