Place ham in a shallow roasting pan. Score top in a diamond pattern. Insert meat thermometer. Roast, uncovered, in a 325 degree F oven for 1-1/2 to 2-1/4 hours or until thermometer registers 140 degrees F.
For sauce, snip any large pieces of apricot in the preserves. Warm apricot and cherry preserves and orange juice in a saucepan over low heat until heated through. Serve over ham. Makes 12 to 16 servings.