Preheat oven to 325 degrees F.

Mix butter and margarine until fluffy. Add flour, powdered sugar and vanilla just until combined and a soft dough is formed.

Roll the dough into two-inch balls. Place on greased baking sheet or baking sheet lined with parchment paper. Press thumb into center of cookie to make a well. Place cherries into each cookie.

Bake 12-15 minutes. Allow cookies to cool.

Melt chocolate according to package directions. Drizzle over cookies. Let chocolate set and serve immediately or store in an airtight container.