Combine miniature marshmallows and amaretto in top of a double boiler; bring water to a boil. Cook until marshmallows melt, stirring occasionally. Stir in lemon juice, almond extract and cherries. Cool slightly.
Beat heavy cream until soft peaks form; gently fold into cooled marshmallow/amaretto mixture.
Spoon into individual serving dishes and sprinkle with chopped almonds or pistachios. Cover and freeze.Servings: 8