Beat cream cheese in large bowl until smooth. Add condensed milk and melted chocolate; beat until creamy. Fold in whipped topping. Pour into graham cracker crust. Cover; freeze 8 hours or until firm.
Meanwhile, in medium saucepan, combine cherries, sugar and water; mix well. Bring to a boil over medium heat. Cook 5 minutes, stirring occasionally. In small bowl, combine cornstarch and liqueur; blend well. Stir into boiling cherry mixture. Cook 1 minute, stirring constantly. Cool 15 minutes. Cover; refrigerate 1 hour or until completely cooled.
To serve, place pie in refrigerator for 30 minutes to soften slightly. Cut into wedges; place on individual dessert plates. Serve sauce over pie.