Wash the cherries; remove the pits but reserve them. Combine the cherries, sugar and water. Heat to the boiling point, stirring often. Loft the cherries out into a deep bowl.
Crush the cherry pit with nut crackers or mortar and pestle or in a blender and add them to the hot juice with the stick of cinnamon and the lemon peel. Let boil 5 minutes, strain and pour over the cherries in the bowl. Chill.
Just before serving add the sherry wine and blend well.