Steps
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1In small bowl, combine all fruit mixture ingredients; mix well. Let stand at room temperature for at least 1 hour, stirring occasionally.
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2Lightly spoon flour into measuring cup; level off. In large bowl, combine 1 cup flour, sugar, salt and yeast; mix well. In small saucepan, heat 3/4 cup milk, water and shortening until very warm (120 to 130°F.). Add warm liquid and egg to flour mixture; blend at low speed until moistened. Beat 3 minutes at medium speed.
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3By hand, stir in an additional 2 cups flour and fruit mixture until dough pulls cleanly away from sides of bowl. On floured surface, knead in 1/2 to 1 cup flour until dough is elastic, about 5 minutes. (Dough will be sticky).
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4Place dough in greased bowl; turn to grease all sides. Cover loosely with plastic wrap and cloth towel. Let rise in warm place (80 to 85°F.) until doubled in size, about 1 1/2 hours.
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5Punch down dough several times to remove all air bubbles. Cover; let rise in warm place until almost doubled in size, about 30 minutes.
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6Grease cookie sheet. Punch down dough several times to remove all air bubbles. On lightly floured surface, roll to 12x8-inch oval. Fold in half lengthwise; form into crescent shape. Press folded edge firmly and pinch open edges together to prevent dough from springing open during baking. Place on greased cookie sheet. Cover; let rise in warm place until doubled in size, 35 to 45 minutes.
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7Heat oven to 375°F. Uncover dough. Bake 25 to 35 minutes or until golden brown. Immediately remove from cookie sheet; cool on wire rack for 1 hour or until completely cooled.
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8In small bowl, combine powdered sugar and enough milk for spreading consistency; blend until smooth. Spread over cooled loaf. Garnish with almonds and candied cherries.