Icing
Grease a 9 x 5 x 3-inch loaf pan. On a lightly floured surface roll dough into a 14 x 9 inch rectangle. Combine candied cherries, almonds and egg white. Spread over dough. Beginning at short ends, roll each side up jelly-roll style to center. Place dough double roll side up in prepared pan. Cover, let rise until loaf just comes to top of pan. Combine egg yolk and water. Brush over loaf. Bake in 350 degree oven 25-30 minutes. Remove from pan and cool on wire rack. Drizzle or spread with icing.
ICING: Mix 1/2 cup sifted powdered sugar and 1 teaspoon milk until smooth. Add more milk a few drops at a time to desired consistency.
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