In mixing bowl beat butter or margarine until softened.

Add the sugar and beat until fluffy.

Add the milk and vanilla and mix well.

Add the flour and beat until well mixed.

Stir in the cherries and pecans.

Shape into three 7-inch long rolls.

Roll in the coconut to coat.

Wrap in plastic wrap and chill for several hours or overnight.

Preheat oven to 375 degrees F.

Cut rolls into 1/4-inch slices and place on an ungreased cookie sheet.

Bake about 12 minutes or until done.

Remove to a wire rack and cool.