In a mixing bowl, beat cream cheese and unsalted butter until smooth. Gradually mix in powdered sugar, then fold in dried cherries, pecans, bourbon, and vanilla extract.

Transfer the mixture to a container or cover with plastic wrap and refrigerate for about 1 hour or freeze for 20-30 minutes until firm.

Once chilled, shape into smooth balls about 1 inch in diameter and place onto a lined baking sheet. Chill for another 20 minutes.

Melt chocolate and coconut oil in a microwave-safe bowl in 30-second intervals, stirring until smooth.

Dip each ball into melted chocolate until fully coated, allowing excess to drip off. Place back on the lined baking sheet.

Let the coated balls sit at room temperature for 15-20 minutes to harden. Store in an airtight container.