Spray a 9 -inch springform pan with non-stick cooking spray, covering the bottom and the sides of the pan, and preheat oven to 350 degrees.
To make the cake, cream together butter and sugar in a large mixing bowl, or in your stand mixer. Once creamed, add in eggs, vanilla and almond extract and sour cream. Combine well.
Add in the dry ingredients of flour, baking powder and baking soda. Stir until combined, taking care not to over mix. Gently stir in the cherries.
Smooth batter into cake pan.
For the streusel topping, combine white and brown sugar, almonds, and flour. Stir in melted butter to make coarse crumbs. Sprinkle streusel over the top of the cake batter.
Cook 40-50 min at 350 degrees until a toothpick in the middle comes out clean.
Allow to cool. Meanwhile make the glaze by combining powdered sugar, almond extract and milk in a small bowl and whisking until smooth. Drizzle glaze over the cooled cake. Enjoy.