In a large saucepan, bring the cherries, juice and sugar to a boil, stirring occasionally.
Reduce heat and simmer uncovered for 5 minutes.
Remove cherries with a slotted spoon and set aside.
Return liquid to a boil; cook until reduced to about 3/4 cup.
Return cherries to pan and cool.
White Chocolate Bread Pudding
Place bread cubes in a greased 13-in. x 9-in. baking dish.
In a large saucepan, combine the cream, white chocolate, milk, sugar, cinnamon and nutmeg.
Cook and stir over medium-low heat until chocolate is melted.
Stir a small amount of chocolate mixture into eggs.
Return all to the pan while stirring constantly.
Pour mixture over bread cubes.
Bake uncovered at 350° for 25-30 minutes or until a knife inserted near the center comes out clean.
Serve warm with cherry sauce.