Heat oven to 400°F. Let pastry dough stand at room temperature 10 minutes to soften.
Meanwhile, in 12-inch ovenproof skillet, melt butter in oven. In small microwavable measuring cup or bowl; microwave milk uncovered on High 30 seconds.
In blender or food processor, break up pastry dough. Add 1/4 cup of the powdered sugar, the milk, eggs and 1 teaspoon of the vanilla. Cover; blend on low speed 30 to 45 seconds or until smooth.
Tilt and rotate skillet to completely cover bottom and sides with melted butter; pour extra melted butter into blender. Blend pastry mixture with quick on-and-off motions until blended. Immediately pour batter into hot skillet.
Bake 20 to 24 minutes or until puffy and golden brown around edges.
Meanwhile, cut cherries in half, if desired. In medium microwavable bowl, combine cherries, the remaining 1 teaspoon vanilla and 2 tablespoons of the powdered sugar; stir until sugar dissolves. Microwave cherry mixture uncovered on High 1 to 2 minutes, stirring once, until warm.
Sprinkle hot pancake with remaining 1 tablespoon powdered sugar; cut into wedges. Top with cherries.