In a small microwave-safe bowl, melt the chocolate and butter together using 50% power. Set aside to cool.
Put the warm water in the bowl of your stand mixer and sprinkle yeast on top. Add the honey, molasses, espresso powder (or coffee extract), vanilla and cocoa powder. Add ⅔ cup (3 oz) of the flour and stir well. This is your sponge. Set that aside for 20 minutes.
After 20 minutes, stir in the melted chocolate/butter mixture, salt and the remaining 1 cup of flour. Mix well, attach the dough hook and let the machine mix the dough until it is smooth and elastic. Add in the cherries and chocolate chips.
Transfer the dough to a well-oiled bowl and let rise for 80 minutes. It will not double in size. You may hardly notice that it’s risen.
Punch down the dough and either shape it into a round or shape it into a log and fit it into an 8x4 inch loaf pan.
Let rise for another 80 minutes. Again, it won’t rise much until it actually goes in the oven.
Preheat the oven to 375 degrees F. and bake for 35 to 40 minutes or until a meat thermometer inserted reads 205 degrees. Let cool completely.