It could be done, but it's certainly not the best idea you'll ever come up with. You run into too many potential problems, and/or things that don't make it a very good choice as a stripper core (weight, grain run-out, potentially poor bonding of the epoxy/fiberglass skins to hard dense wood, possible brittleness, hardness and unevenness when fairing the shape, etc., etc.). Good stripper core woods are light, stiff for their weight, straight-grained, easy to shape (mill, twist, carve, smooth, etc.) and absorb epoxy resin well to prevent delamination. Cherry wouldn't be very close to the top of that list, and other woods like cedar in particular, would simply be a lot more likely to make a good boat.
Just about anyone who can work carefully and follow directions can turn out a pretty nice, good-looking stripper. Those who already posess good woodworking skills can often turn out a stripper that will knock your socks off. The best way for first time builders to get into trouble is by getting too creative and inventing their own directions or substituting materials without really understanding the process and factors at play. I'd save the cherry for some really lovely gunwales, seat frames thwarts and decks and stick with woods that are proven to work well and be ideal for the hull's core. It just makes a lot more sense.