Cream butter and sugar in large mixing bowl. Add milk and vanilla. Stir in flour, cherries and pecans. Shape dough into two 10 inch rolls. Put each roll on waxed paper large enough to wrap the rolls. Divide the coconut on the two cookie dough rolls, roll the cookie dough until the coconut coats the roll and is rolled into the dough. Wrap the cookie dough in the waxed paper and chill thoroughly. Preheat oven to 375. Cut into 1/4" slices, place on ungreased cookie sheet. Bake at 375 until edges are golden brown about 12 minutes.