1. Heat oven to 400°F. Chop cherries, reserving 50 halves for garnish. Mix sugar, margarine, egg, chocolate, buttermilk and vanilla. Stir in flour, baking soda, salt and cherries.
2. Drop dough by rounded teaspoonful about 2 in. apart into ungreased cookie sheet. Bake 8 to 10 min. or until almost no indentation remains when touched; cool. Frost with Chocolate Frosting or dust with powdered sugar. Garnish with cherry halves, if desired.
3. For frosting: Heat chocolate and margarine/butter over low heat until melted; remove from heat. Stir in water and powdered sugar until smooth.
**Note: If using self-rising flour, omit baking soda and salt.