In a medium saucepan, combine rice and milk. Cook over medium heat 45 minutes or until rice is tender; set aside to cool. In a bowl whip cream until stiff; stir in vanilla. Stir whipped cream, sugar and chopped almonds into the cooled rice. Refrigerate 3 to 4 hours. Sauce: Heat cherries with juice. Dissolve cornstarch in a little water. Stir into cherries; gently stir over medium heat until thicked. Some people like the cherry sauce served hot with the rice pudding. In Denmark the tradition is to include 1 whole almond in the rice pudding. And the person to find it wins the prize ~ commonly a cute & tasty marzipan pig!