1Cream together sugar and butter until light and fluffy. Beat in eggs until blended. Beat in eggnog and Bourbon until blended. In a bowl, mix together the remaining ingredients and beat into egg mixture until nicely blended. Do not overbeat.
2Spread batter evenly into a greased 10-inch tube pan and bake in a 350° oven for about 55 minutes, or until a cake tester, inserted in center, comes out clean. Allow to cool in pan.
3When cool, remove from pan and drizzle top with Eggnog Cream Glaze. Decorate top with whole glaceed cherries and toasted slivered almonds.
4Eggnog Cream Glaze:
Stir together all the ingredients until blended.