In a small bowl, dissolve yeast in milk. In a large bowl, combine the flour, sugar, salt, lemon peel and cardamom. Cut in butter until crumbly. Add yeast mixture and whole egg; mix well. Stir in cherries, raisins and pecans. Turn onto a floured surface; knead until smooth and elastic, about 6-8 minutes. Place in a greased bowl, turning once to grease top. Cover and let rise in a warm place for 1 hour (dough will not double in size). Punch dough down; divide into four pieces. Roll three pieces into 15-in. ropes. Braid ropes; place on a greased baking sheet. Divide last portion of dough in half; roll each into a 15-in. rope. Twist ropes. Press an indentation down the center of braided loaf; place twisted dough in indentation. Cover and let rise until doubled, about 30 minutes. Beat egg yolk and water; brush over loaf. Bake at 350° for 20 minutes. Cover loosely with foil; bake 20-25 minutes more. Cool on a wire rack. Combine sugar and milk; drizzle over loaf. Decorate with cherries if desired.