Use a folded paper towel soaked in vegetable oil to thoroughly grease a standard-sized bundt pan. Set aside.
Preheat oven to 325 degrees.
In large bowl, combine softened cream cheese, sugar, eggs, and vanilla extract. With mixer on low speed, mix together until well combined (about 1 minute). Mixture will be thin.
Add unsalted/melted butter, water and cake mix. With mixer on low speed, mix together just until combined (about 2 minutes). Batter will be thick and creamy. Set aside.
Spoon batter into prepared Bundt pan. Smooth top with back of spoon. Batter will not fill pan. Allows room for cake to rise.
Bake on 40-45 minutes OR until top springs back when lightly pressed. Or press a knife in center all the way down touching bottom. If it comes out clean, cake is done. A toothpick is too short. Only pierces top.
Cool 30 minutes before turning out onto a large plate. Delicious warm.
MUCH BETTER after 24 hours in fridge. Place cooled cake in a container with a tight lid. Place in fridge (not freezer). Enjoy cold!
Pour cherry pie filling into a small bowl. Place in center of cake before serving. Makes a lovely presentation. Top individual servings with a small scoop for those who prefer it.
Before serving, sprinkle top of cake with powdered sugar (optional).