Have all ingredients at room temperature.
Preheat the oven to 325° F. with a rack in the center. Grease and flour a 10-inch tube or bundt pan.
Pit and stem the cherries and cut them into quarters. Dry as well as possible between layers of paper towels. Since they're fresh, they will definitely retain some moisture — but do your best.
Stir the quartered cherries together with two tablespoons of the flour.
In a large mixing bowl or the bowl of a stand mixer fitted with the paddle, beat butter and remaining sifted flour together for five minutes on medium speed.
Add eggs one at a time, beating after each addition to incorporate.
Add sugar, baking powder, salt, and vanilla and almond extracts. Beat for two minutes more.
Fold lemon zest and cherries into batter.
Scoop batter into prepared pan.
Bake for about 55 minutes, until golden and beginning to pull away slightly from the sides of the pan.
Cool in pan for 10 minutes and then turn out onto a rack to cool completely before serving.