Cherry Eggnog Bread

3/4 cup maraschino cherries, chopped and drained
2 1/4 cups flour
1 1/2 tsp. baking powder
3/4 tsp. nutmeg, ground
3/4 tsp. salt
1 cup granulated sugar
3/4 cup butter, softened
3 eggs
1 cup eggnog

1/2 cup powdered sugar
3-4 tsp. eggnog

1. Preheat oven to 325 degrees.  Spray bottom of loaf pan with spray or rub with butter.
2. Combine sugarand butter in mixer and beat on high until light and fluffy. Add eggs, one at a time, beating until blended. 
3.  In small bowl, combine flour, nutmeg, baking powder and salt.
4.  Add one third of flour mixture to sugar batter.  Beat on low speed until barely combined.  Beat in half the eggnog.  Add another third of flour mixture, the remaining eggnog and then the remaining flour mixture, beating after each addition just until combined.  Gently stir cherries into batter.
5.  Pour batter into loaf pan (I have also used a Demarle mold and cake pan, adjusting the baking time).  Bake in loaf pan one hour and 15 minutes or until a tester inserted into the center comes out clean and top is golden brown.  Cool in pan for five minutes.  Cool completely on wire rack.
6.  For glaze, mix powdered sugar and eggnog until smooth.  Drizzle over cooled loaf.  

Makes 12 servings.