Too late to do anything now. Bracket or shelf fungus (aka "conks") growing on a tree is an indication of heart rot. It is not fixable/correctable and will ultimately prove fatal. But a tree can still live a long time with this issue as the more exterior wood, what transmits moisture and nutrients throughout the tree, still functions as normal.

But cherry trees in general are prone to a whole host of fungal and bacterial issues and tend not to be long lived under the best of circumstances. Might want to think about getting a replacement started.........

you dont mention is this is a fruit tree or just a flowering cherry ... though you do include the fruit forum .... it doesnt really matter as they are all cherry ... but it might make a difference to value in keeping it around ...

anyway ... if there is no danger from it falling on your house.. or anything else... no need to get rid of it immediately ... and usually kids arent out in bad storms playing under trees ... the key to immediate removal is the threat of harm to something ...

i agree ... if is probably time to plant a replacement .... while this one falls apart.. in tree time.. which is usually counted in decades ...

https://sites.google.com/site/tnarboretum/Home/planting-a-tree-or-shrub

this is a show from ma nature .... i enjoy just observing these types of things.. including shrooms etc ...

the cause of this was improper pruning... leaving giant stubs ... a very long time ago ... which the tree could no encapsulate.. heal ... properly cut.. the tree could have grown a protective skin/bark ... and this would have been avoided ...

https://duckduckgo.com/?q=tree+wound+encapsulation+healing&t=ffcm&iar=images&iax=images&ia=images

welcome to the forums... ken

Thank you gardengal and Ken for your responses.

This is what I feared and am not surprised as it was pruned in a poor way several years back.

Shame as this beauty provided over 80 pounds of sweet cherries each year.

I will allow one or more of the many suckers that pop up around this tree to be its successor.

That strategy will only work if the tree is not grafted. Can you see a graft union?

Yes, a good point, however, this is an older tree growing up to 30 feet tall, so doubt it was grafted. Will double check. Thanks.

Shame as this beauty provided over 80 pounds of sweet cherries each year.

==>> since tree time is counted in decades ... you may get another decade of crops ... who knows ...

there are services.. that are not cheap ... where you can provide scion and have them grafted and returned to you ...

the problem with your idea ... besides that mentioned above.. is once they sucker.. it might be hard to stop it from suckering ... its can be like a runaway .... and become problematic ...

one thing for sure.. some of the ugliest trees i have ever seen.. are in orchards ... lol ... they dont care.. its all about the production ... and in fact.. they prune them to be ugly... to increase crop ...go figure ...

ken