1. Combine sugar, evaporated milk, and butter in 3-quart casserole. Cook on Full Power for 10 to 13 minutes, or until soft ball stage is reached.* Stir mixture 3 times during cooking time.
2. Beat in marshmallows, chocolate morsels, and vanilla with wire whip, until mixture is smooth and creamy. Stir in coconut, nuts, and cherries. Pour into greased, 8 x 8 x 2-inch dish.