PREPARATION:

1. Spray 9X9-inch pan with cooking spray. Spray inside of heavy large saucepan with cooking spray.
2. Combine sugar, cream, butter and syrup in prepared saucepan. Cook over medium heat until sugar dissolves and mixture comes to a boil, stirring frequently. Wash down sugar crystals.
3. Attach candy thermometer to side of pan, making sure bulb is submerged in sugar mixture but not touching bottom of pan.
4. Continue cooking about 6 minutes or until sugar mixture reaches soft-ball stage (234°F) on candy thermometer, stirring frequently. Remove from heat; let stand 10 minutes. (Do not stir.)
5. Add white chocolate and vanilla; stir 1 minute or until chocolate is melted and mixture is smooth. Stir in cherries and walnuts.
6. Spread evenly in prepared pan. Score into 64 squares while fudge is still warm. Refrigerate until firm. Cut along score lines into squares.