I haven't done this myself yet (only just planted a yoshino this spring), but according to the Macon Cherry Festival website, propagation is very possible. In fact, apparently that's where all their cherry trees came from. How to do it?...someone else can help, hopefully.

Here is a link that might be useful: Macon Cherry Festival History

Grafting is the method of choice & the only one I normally use. But have used cuttings of firm new growth applied 0.8% IBA (rooting hormone) stick in well drained soil & mist.
Takes 1.5 years to produce a plant in a 1 gal container.....

I am confused about the two methods of propagating a cherry tree. If you plant cuttings with rooting hormone the plant will eventually sprout roots underneath the soil. When you graft a bud from a parent tree does the bud from the parent grow roots between itself and the host? Also, do you need another cherry tree as the host?

use this. that way you dont waste any cuttings. from what ive seen if the branch doesnt root, just let it be and itl heal up and not be wasted. hope it helps

http://aggie-horticulture.tamu.edu/extension/ornamentals/airlayer/airlayer.html

Hi,
I planted a cherry tree using cuttings from sprouts of exposed tree roots into a 4 inch pot last spring. This month, now a year later, it has sprouted 2 branches of green leaves about 10 inch long each and the roots have outgrown the pot. Should I transfer it to a larger pot now or is it ok to plant it in the ground this month? Please advise. Thanks.