Preheat oven to 350 degrees F (175 degrees C). Grease a 9 x 5 inch loaf pan.
In a large bowl, cream butter or margarine and sugar together. Add eggs, and continue mixing until light and fluffy. Add baking soda, salt, and vanilla; mix thoroughly. Alternately add buttermilk and flour to the creamed mixture, mixing only enough to hold ingredients together. Fold in cherries and nuts, mixing lightly. Turn batter into prepared pan.
Bake for 50 to 60 minutes, or until bread tests done. Cool completely before slicing.