Preheat the oven to 350°.
In a large bowl, mix together the flour, baking powder, salt and cocoa and set aside.
In another large bowl, use an electric mixer (or stand mixer) and cream together the butter and sugar for about 2-3 minutes. Add the eggs and almond extract and beat for another 1-2 minutes.
Add the flour mixture and milk and mix just until combined - don't overmix! Use a large spoon to fold in the cherries and chocolate chips.
Pour the batter into a well-greased bread pan and bake for about 60-70 minutes or until a toothpick inserted in the center comes out clean (or until internal temp reaches about 200°). Let the bread cool in the pan for about 20-30 minutes and then remove from pan and cool on a wire rack until completely cooled. Drizzle the glaze on top of the cooled bread.
GLAZE: Pour the half-and-half in a small glass bowl and microwave for about 45 seconds. Add the chocolate chips and stir until smooth and completely melted. Add the powdered sugar and continue to stir until smooth. Add 1-2 Tbsp of hot water and mix well to desired consistency.