Preheat the oven to 350°F (175°C). Grease a 9x5-inch loaf pan and optionally line the bottom with parchment for easier removal.

In a medium bowl, whisk together the flour, baking powder, baking soda, and salt until evenly distributed.

In a separate large bowl, beat the softened butter and sugar with a hand mixer or stand mixer until pale and fluffy, about 2-3 minutes.

Add the eggs one at a time, beating briefly after each until incorporated. Stir in the vanilla extract and the sour cream until the batter is smooth.

Add the dry ingredients to the wet mixture in two additions. Mix gently and stop as soon as the flour disappears; a few streaks are okay.

Fold in the chopped cherries and chocolate chips with a spatula. Use gentle strokes to keep the batter airy.

Scrape the batter into the prepared loaf pan and smooth the top with an offset spatula.

Bake for 55-65 minutes. Start checking at 50 minutes: a toothpick inserted in the center should come out with a few moist crumbs but not wet batter.

If the top browns too quickly, tent with foil.

Cool the loaf in the pan for 10 minutes, then lift out using the parchment and transfer to a wire rack to cool completely before slicing.