Preheat the oven to 350°F.
In a large mixing bowl, combine sugar, almond extract, vanilla, vegetable oil, milk, cherry juice, eggs, and sour cream. Whisk to combine well.
Bake for 45 minutes uncovered, then cover with a sheet of aluminum foil and continue baking for another 15-20 minutes. Remove from the oven and cool for 10 minutes, then transfer to a wire rack.
In a small bowl, whisk together the glaze ingredients and drizzle over top of the cooled bread. It will take about 30 minutes to set.