Combine popcorn (make sure to remove unpopped kernels) and cherries in large bowl.
Combine sugar, water, preserves, corn syrup, and lemon juice in a small saucepan; bring to a boil and cook, stirring constantly, until sugar dissolves.
Cook until mixture forms thick, "ropy" threads that drip from the spoon.
Pour slowly over popped popcorn and mix thoroughly.
Spray 9 x 13-inch baking dish with cooking spray.
Press mixture into baking dish and cool completely before serving.
Recipe compliments of The Popcorn Board