Mix ½ the flour, yeast and enough warm water to make an elastic dough. Cover with a towel and let rise until double in size, about 30 minutes. Whisk together eggs and sugar. On medium speed mix in egg mixture, melted butter. Add remaining flour in 3 parts. Add enough warm water to make dough elastic. Knead for 10 minutes. When dough is smooth and elastic add cherries and raisins. Mix to combine. Place in a oiled bowl and let rise 2 hrs until double in size. Knock dough down and place in a greased 6" x 3" round baking dish or 3 2.25" x 2" ring molds. Let rise 6 hrs or in the refrigerator over night. If storing in the refrigerator remove to room temperature 3 - 4 hrs early and let rise. When doubled in size bake at 400* for 35 - 40 minute. Panettone should be golden brown and hollow sounding when tapped on. Cool on a wire rack. Sliced this make a great French toast. Enjoy!!!!!