1Heat oven to 375°F. Grease bottoms only of 6 jumbo muffin cups (3 1/2x1 3/4 inch) or 12 regular-size muffin cups (2 1/2x1 1/4 inch) with shortening, or line muffin cups with paper baking cups.
2In medium bowl, beat milk, oil and egg with fork. Stir in remaining ingredients except cherries, juice and powdered sugar just until flour is moistened. Stir in cherries. Divide batter evenly among muffin cups. (For 12 regular-size muffins, cups will be almost full.)
3Bake jumbo muffins 23 to 25 minutes, regular-size muffins 18 to 20 minutes or until toothpick inserted in center comes out clean. Cool jumbo muffins 10 minutes or regular-size muffins 5 minutes; remove from pan.
4In small bowl, mix powdered sugar and reserved 2 tablespoons cherry juice with spoon; drizzle over warm muffins. Serve warm.