Preheat oven to 350 degrees F. Grease the bottom and 1/2 inch up the sides of an 8x4x2-inch or 9x5x3-inch loaf pan; set aside. In a large bowl, combine flour, sugar, baking powder, salt, and baking soda. Make a well in center of flour mixture; set aside.
In a medium bowl, combine egg, milk, oil, and vanilla. Stir in dried cherries, golden raisins, and lemon peel. Add egg mixture all at once to flour mixture. Stir just until moistened (batter should be lumpy). Spoon batter into the prepared pan.
Bake about 1 hour or until a toothpick inserted near the center comes out clean. Cool in pan on a wire rack for 10 minutes. Remove bread from pan. Cool completely on wire rack. Wrap and store overnight.
Before serving, prepare Lemon Glaze. Drizzle glaze over bread. Makes 16 servings.
In a small bowl, combine 1/2 cup powdered sugar and 1 teaspoon finely shredded lemon peel. Stir in enough lemon juice (1 to 2 teaspoons) to reach drizzling consistency.