Total Calories: 200
1. Stir together flour, baking powder, salt, nutmeg and 1/2 cup sugar. Set aside.
2. Combine cereal and milk. Let stand 10 minutes. Beat in egg and oil. Stir in flour mixture. Set aside 2 tablespoons chopped cherries. Fold remaining cherries and 3/4 cup nuts into batter. Spread in greased 9 x 5 x 3-inch loaf pan.
3. Heat margarine in small frypan until bubbly. Remove from heat. Stir in 1/4 cup sugar, 1/4 cup nuts and reserved cherries. Sprinkle over batter.
4. Bake at 350°F about 1 hour. Cool 10 minutes. Remove from pan.
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