Preheat oven to 350F. Spray 10 inch iron skillet with non stick cooking spray. Wipe away excess with a paper towel.
Combine cake mix with pineapple-water mixture, oil and eggs. Beat on low until just mixed then beat on medium speed for 1 1/2 minutes.
Melt butter in skillet-DO NOT BROWN. Use low heat. Sprinkle brown sugar to cover bottom, top with drained pineapple. (May use crushed and/or sliced pineapple rings) Do not stir. Slice cherries in half and place cut side up on top of pineapple.
Pour cake batter on top of cherries. Do not overfill. Bake at 350 degrees for about 40 minutes or until done.
Remove from oven and allow to cool for 10 minutes. Invert onto cake plate.