Preheat the oven to 325 degrees F. Butter a 9-inch baking dish.
Arrange the bread cubes tightly in the prepared baking dish. Beat together the butter, milk, vanilla and eggs in a large bowl. Add the granulated and brown sugars, whiskey and cinnamon and mix until the sugars are dissolved. Pour the mixture over the bread. Sprinkle the cherries and pecans all over.
Put the baking dish on a baking sheet. Bake until the crust is golden brown, 55 to 70 minutes. Let rest for 20 minutes before serving with Whiskey Cream Sauce.
Whiskey Cream Sauce:
Combine the butter, cream, sugar and whiskey in a saucepan. Cook over low heat, stirring constantly, until the mixture reaches a low boil. Pour a small amount over the individual servings of bread pudding.