1Heat oven to 400°F. Spray 8- or 12-cup fluted tube cake pan with cooking spray. Pour 1/3 cup melted butter into pan; turn pan to coat with butter. Sprinkle brown sugar over butter. Arrange cherries and pecans on sugar mixture.
2In medium bowl, stir Bisquick mix, granulated sugar, milk, 2 tablespoons softened butter and egg until combined; beat vigorously 30 seconds. Spoon batter evenly over cherries and pecans.
3Bake 20 to 25 minutes or until toothpick inserted in center comes out clean. Immediately place heatproof plate upside down on pan; carefully turn plate and pan over to remove coffee cake. Cool 10 minutes.
4Meanwhile, in small bowl, mix glaze ingredients until smooth and thin enough to drizzle, adding additional water, 1 teaspoon at a time, until desired consistency. Drizzle glaze over warm coffee cake.