Joy posted this recipe back in January:

Apricot Pepper Jelly

1 large red pepper, seeded and chopped
2 cups cider vinegar
1/2 cup hot peppers, seeded and chopped (I use a mix of peppers such as Cubanelles, jalapenos, serranos, cayennes, and cherry peppers)
8 or 9 fresh apricots, pitted and sliced very thinly plus 1/2 cup dried apricots, chopped
6 cups sugar
1 pouch (3 oz) liquid pectin

Add the peppers, apricots, vinegar and sugar to a large pot and stir. Bring to a full rolling boil for about 8 minutes. Add the pectin and stir in. Bring back to the boil for 5 minutes. Fill jars and process in a water bath canner for 10 minutes.

You could sub cherries for the apricots.

Link below is to several other hot pepper jelly recipes - Habanaro Gold and Habanaro Peach especially that cherries could be subbed in. They might be of help in deciding on proportions - how much hot peppers to add to any basic cherry jelly recipe.

Dave

Here is a link that might be useful: Hot pepper jelly discussions