1. Combine port and cherries in bowl and microwave until steaming, 1 to 2 minutes. Cover and let stand until plump, about 10 minutes. Strain port through fine-mesh strainer into medium saucepan, reserving cherries.

2. Add vinegar, thyme sprigs, and shallots to port and bring to boil over high heat. Reduce heat to medium-high and reduce mixture until it measures 3/4 cup, 14 to 16 minutes. Add cream and reduce again to 3/4 cup, about 5 minutes. Discard thyme sprigs. Off heat, whisk in butter, few pieces at a time, until fully incorporated. Stir in cherries, minced thyme, salt, and pepper. Cover pan and hold, off heat, until serving. Alternatively, let sauce cool completely and refrigerate for up to 2 days. Reheat in small saucepan over medium-low heat, stirring frequently, until warm.

Makes 1 3/4 cups