Drain canned cherries, reserving juice. Coarsely chop enough cherries for 1/2 cup and set aside. Save remaining cherries for another use.
In a medium saucepan, add reserved cherry juice (approximately 2/3 cup) plus enough water to equal 2 cups. Bring to a boil over medium-high heat. Stir in remaining ingredients, except chopped almonds. Cover and reduce heat to a simmer for 10 minutes.
Remove from heat and stir in toasted chopped almonds. Serve.