Preheat oven to 350 F. Butter a 9-inch square, deep-dish casserole or baking dish.
In a large bowl, combine cherries, apples and 1/4 cup sugar. Stir to combine. Pour fruit into prepared baking dish. In the same mixing bowl, combine flour, baking powder, margarine, remaining sugar, eggs and vanilla. Mix until combined.
Pour batter mixture over fruit and bake in prepared oven 35 to 45 minutes or until a toothpick inserted in the center of the cobbler topping comes out clean. Allow to cool 15 to 20 minutes before serving.
Serves 6 to 8