Preheat oven to 350F. Lightly grease large cookie sheet. In a large bowl, combine granulated sugar, and eggs. Beat with electric mixer on high speed for 2 minutes. Add olive oil, orange peel, orange juice and vanilla, beating on low speed until combined.
In medium bowl, combine 2 cups of flour, the baking powder and 1/4 tsp salt. Gradually add flour mixture to egg mixture, beating on low speed until combined. Stir in cherries and remaining 1/2 cup flour.
Turn dough out onto lightly floured surface; divide in half. Using lightly floured hands shape each portion into an 8 inch long loaf. Place loaves 3-4 inches apart on cookie sheet; flatten loaves slightly until about 2 inches wide.
In small bowl, combine egg white and water, beating until frothy. Brush over tops and sides of loaves. Sprinkle with coarse sugar. Bake in pre-heated oven 25-30 minutes. Cool on cookie sheet on wire rack for 15 minutes.
Reduce oven temperature to 300F. Transfer loaves to cutting board. Using a serrated knife, cut each loaf diagnonally into 1/2 inch thick slices. Place on ungreased cookie sheet. Bake for 8 minutes. Turn slices over and bake for 8-9 minutes. Transfer cookies to wire rack; let cool.