Grease baking dish with butter and dust with 2 Tbs of granulated sugar; rotating dish to coat evenly. Fill dish with cherries to cover entire bottom, forming an even layer.
In a small bowl, mix together the flour, sugar, salt, cinnamon and nutmeg. In a separate bowl, beat the eggs and egg yolk, then add milk, cream, vanilla and almond extract. Gradually add the flour mixture to the egg mixture and whisk well until there are no lumps remaining. Pour over cherries.
Bake on the lower-middle rack for 35-40 minutes. Remove from oven and dust with powdered sugar.