1Heat oven to 375°F. In medium bowl, mix sugars, oil, egg and vanilla. Stir in flour, cereal, baking soda and salt until blended (dough will be slightly soft). Stir in cherries and chocolate chips.
2On cookie sheets, drop dough by rounded tablespoonfuls 2 inches apart. Bake 7 to 8 minutes or until light golden brown around edges (centers will look slightly underdone). Cool 1 minute; remove from cookie sheets to cooling racks. Cool completely. Store in tightly covered container.