Shape cheese into 8 balls; chill.
Add boiling water to gelatin in saucepan and stir over low heat until completely dissolved.
Add grapefruit liquid.
Spoon gelatin mixture into a 5 cup ring mold to cover bottom; over this arrange 8 grapefruit sections, cherries, and cheese balls.
Slowly spoon in gelatin mixture to barely cover fruit; chill until almost firm.
Chill remaining gelatin mixture until syrupy; fold in remaining grapefruit.
Spoon over first layer.
Chill until firm.