Preheat oven to 350°F. Grease and flour a deep 9-inch cast iron skillet, a 10-inch cast-iron skillet, or a 9-inch round cake pan (or spray with nonstick baking spray). In a large bowl, beat the butter and 1 cup of the sugar with a mixer on medium speed until fluffy, about 5 to 7 minutes. Add the eggs, one at a time, beating well after each addition. Beat in vanilla extract and almond extract.
In a medium bowl, whisk together the flour, baking powder, and salt. Gradually add the flour mixture to the butter mixture alternately with the yogurt, beginning and ending with the flour mixture, beating just until combined after each addition. Spread the batter in the prepared skillet.
Sprinkle cherries, almonds, and remaining 2 tablespoons sugar on top.
Bake until a wooden pick inserted in center comes out clean, about 35-40 minutes. Let cool completely on a wire rack. Garnish with additional sliced almonds and dust the top with powdered sugar just before serving.