Preheat oven to 350 degrees F. Spray 9-inch cake pan (round or square) with oil spray.
In a bowl, mix together flours, baking powder, and salt.
In a separate bowl, whisk together butter, oil, and sugar until fluffy (2-3 minutes with electric mixer). Add egg and vanilla and beat until combined well. Add milk and beat an additional minute.
Add dry ingredients to wet ingredients and mix together gently.
Transfer batter to prepared pan. Sprinkle cherries on top of batter.
Bake 45 to 50 minutes until light golden brown and toothpick inserted comes out clean.
Allow to cool before serving.