Preheat oven to 350 degrees F (175 degrees C). Lightly grease an 8x4 inch loaf pan. Beat the butter, sugar, and eggs together in a mixing bowl. Stir in the flour, baking powder, and sat, alternating with the eggnog, just until the dry ingredients are moistened. Fold in the pecans, raisins, and cherries until evenly blended. Spoon the batter into the prepared pan. Bake in preheated oven until top is golden and springs back when lightly touched, about 70 minutes. Cool in pan 10 minutes, then turn out onto a wire rack to cool completely.