Preheat oven to 350 degrees. Grease a 9x5-inch loaf pan. In a large bowl, beat eggs. Add sugar, eggnog, margarine, rum extract, and vanilla extract. Blend well. Stir in flour baking powder, salt, nutmeg, pecans, and red and green candied cherries. Mix just until blended.
Pour into prepared loaf pan. Bake for 45-50 minutes.