Beat eggs until thick and lemon colored. gradually add 1 cup sugar, beating well. Add vanilla & blend well.
Sift together the flour, baking powder and salt. Add to egg mixture and mix thoroughly. Stir in pecans. Pour 2/3 batter into a greased & floured 9-inch square baking pan,spreading evenly.
Drain cherries,reserving juice. Stir cherries into remaining batter. Pour batter evenly over the first layer.
Bake at 350 degrees for 45-50 mins. Cool. Cut cake into 3-inch squares.
Add water to cherry juice to equal 1 cup, combine remaining sugar and cornstarch in a saucepan; stir well.Add cherry juice stirring well. Cook over low heat until clear and thickened. Stir in almond extract.
Serve squares with dollop of whipped cream or scoop of ice cream spoon cherry topping over each serving.