Combine dry ingredients in large bowl. Beat together egg, buttermilk, oil and vanilla in a small bowl. Add to dry ingredients with nuts and chips. Stir just until moistened. Gently fold in the cherries.
Fill greased or paper lined muffin tins 3/4 full.
Bake at 350° for about 15 minutes. Cool in pans for about 5 minutes before removing to cooling racks.