Prepare 2 17″x12″x1″ sheet pans with cooking spray, set aside.
Combine popcorn, cereal, almonds, and cherries; set aside.
In the microwave, melt marshmallows and butter, 30 to 60 seconds, stirring half way through. Marshmallows and butter should be melted and smooth. Pour over popcorn mixture, stir to coat all pieces. Then pour onto baking sheet.
Melt chocolate in microwave for 30 to 45 seconds, stirring half way through. Drizzle over popcorn mixture and let chocolate set. Serve after chocolate has set.