Spray a 12 x 8 inch OR 13 x 9 inch baking dish with cooking spray or butter.
Divide French loaf evenly cutting in half. Cut each half into 8 or 9 one inch slices.(Depending on length of loaf) Center side by side in dish.
In a medium size mixing bowl, use an electric mixer to whip together cream cheese,1/3 cup granulated sugar, 2 eggs, 1 tsp vanilla and almond extracts. Beat until smooth.
Fold in cherry pie filling by hand. Separate bread slices and stuff evenly with cream cheese filling.
In a medium size mixing bowl, whisk together 6 eggs, milk, 1/3 cup sugar, salt, nutmeg and 1 tsp vanilla until fully combined.
Pour evenly over bread, cover with plastic wrap and chill overnight.
Preheat oven to 350°F. Remove from fridge and sit on counter for 10-15 minutes. Remove plastic wrap and sprinkle the top with turbinado sugar.
Bake for 40-45 minutes or until puffed and golden. Check to see if egg custard is cooked through. If not, lay foil loosely on top and bake for 5 minutes longer.
Let stand for 5 minutes, then divide and serve dusted with powdered sugar.