Preheat oven to 350º. Spray a 9" springform pan with non-stick cooking spray with flour.
In a small bowl, whisk together flour, baking powder and salt and set aside.
In a large bowl, beat butter and sugar until light and fluffy. Add eggs, vanilla, almond extract and milk. Add flour mixture and mix just until combine. Stir in cherries.
Spread batter evenly into prepared pan.
To make the crumb topping add the sugar, flour, and butter in a small bowl and use a fork to combine well. Add the almonds and stir to combine. Sprinkle over the top of the cake batter
Bake at 350º for 40 - 50 minutes or until a toothpick inserted into the center comes out clean.
Remove from oven and let cool 5 minutes before removing from pan. Cool completely on a wire rack before serving.
Whisk together powdered sugar, milk, and almond extract to create a thin glaze. Drizzle over the cake.