Preheat your oven to 350°F (175°C). Grease and flour two 8 inch round cake pans, or line them with parchment circles for easy removal. Gather and measure out all your ingredients before you start mixing so everything is handy.
Mix the Dry Ingredients
Whisk together the flour, baking powder, and salt in a medium bowl. Blending these dry ingredients first helps the cake rise evenly and keeps the texture soft, which is key to a light crumb.
Cream Butter and Sugar
In a large bowl, use a mixer to beat the softened butter and granulated sugar until fluffy and pale in color. Add eggs one at a time, mixing well after each addition. This step is really important for getting an airy, delicate crumb.
Add the Wet Ingredients
Mix in the sour cream, vanilla, and almond extract. Stir well to combine. In another small bowl, combine milk and cherry juice so it’s ready for the next mixing step.
Combine Wet and Dry Ingredients
Add the flour mixture to the butter mixture in three parts, alternating with the milk and cherry juice blend. Start and finish with the flour for the best texture. Stir in the chopped maraschino cherries until just mixed in, but try not to overdo it since overmixing can make the cake dense.
Bake the Cake
Divide the batter evenly between the two prepared pans. Smooth the tops and bake for about 28 to 32 minutes, or until a toothpick inserted into the center comes out clean. Let the cakes cool in the pans for 10 minutes, then turn them out onto wire racks to finish cooling.
Make the Cherry Buttercream
Beat the softened butter until creamy. Add powdered sugar one cup at a time, mixing on low then increasing to medium. Add the cherry juice and vanilla, beating until smooth and fluffy. Gently fold in the chopped cherries and a pinch of salt. Keep an eye on the buttercream texture—the chopped cherries can add extra moisture, so add a bit more powdered sugar if you need to thicken it up.
Assemble and Frost the Cake
Place one cake layer on your serving plate and spread a layer of cherry buttercream over the top. Add the second layer and cover the entire cake with the rest of the cherry buttercream, swirling it for a playful look. For a fun touch, decorate with extra whole cherries or a light sprinkle of colored sugar if you like.