Line a 9 inch square pan with foil and butter or coat with cooking spray.

In a heavy saucepan, combine chocolate chips and corn syrup.

Cook and stir on low heat until melted.

Remove from the heat, stir in powdered sugar, evaporated milk and vanilla.

Beat with a wooden spoon for about 5 minutes until thickened and glossy.

Stir in cherries and pecans.

Spread in prepared pan. Refrigerate until firm.

Lift fudge out of pan with foil and discard foil.

Cut fudge into 1 inch squares with knife or pizza cutter.

Store in airtight container in refrigerator.