Chop both chocolates and microwave 3/4 of the chocolate on high 30 seconds. Continue heating in short intervals until melting.
Add the rest of the chocolate and stir in until melted.
Place cereal in large bowl and pour the chocolates on top.
Stir gently to coat without crushing cereal too much.
Fold in cherries.
Spoon 8 mounds onto a sheet lined with parchment.
Let sit until the chocolate firms up.