Combine 2 cups flour, undissolved yeast, sugar, salt and cinnamon in a large mixer bowl. Heat milk and butter until very warm (120° to 130°F). Add to flour mixture with eggs and beat on medium speed with electric mixer about 3 minutes. Gradually stir in 1 cup flour. Add cherries and nuts (if desired) and remaining 1 cup flour.
Spread batter in two greased 8-1/2 x 4-1/2-inch loaf pans, filling each half full. Let rise in a warm, draft-free place until nearly doubled, about 1 hour. Bake in preheated 325°F oven for 35 to 40 minutes or until golden brown. Place on cooling rack. Cool for 10 minutes and remove from pans. Cool loaves for 20 minutes on wire racks. Pour glaze over top of each loaf and continue to cool.
To make glaze, combine all ingredients and drizzle over warm bread.