1In a large bowl, beat the butter with an electric mixer for 30 seconds or until softened. Add sugar and beat until fluffy. Add milk and vanilla and beat well. Add flour and beat until well mixed. Stir in cherries and pecans. Divide dough into thirds. Shape each portion into a 7 inch roll. Roll each in 1/4 cup of the coconut to coat. Wrap and chill for several hours or OVERNIGHT (THIS IS BEST). Cut into 1/4 inch thick slices. Place on an ungreased cookie sheet. Bake at 375 degrees for 10 to 12 minutes or until the edges are browned. Cool on a wire cookie rack. Makes approximately 80 cookies.