Make the crust: Preheat the oven to 350 degrees F. Mix the crushed graham crackers and melted butter in a medium bowl. Press into the bottom and up the side of an 8-inch pie plate. Bake until lightly golden brown, 10 minutes. Let cool.
Meanwhile, make the cream cheese filling: Beat the heavy cream with an electric mixer in a medium bowl until soft peaks form. Add the cream cheese and confectioners' sugar; beat until smooth.
Make the cherry filling: Bring the cherries, granulated sugar, cornstarch and almond extract to a simmer in a medium saucepan over medium heat. Cook, stirring constantly, until thickened, about 8 minutes. Let cool completely.
Pour half of the cherry filling into the pie crust; top with the cream cheese filling, then the remaining cherry filling. Sprinkle with sliced almonds. Refrigerate for 4 hours before serving.
Photograph by Kate Mathis
Courtesy of Food Network Magazine