1. Preheat oven to 350°F. Combine 2 Tbsp. shallots, 2 Tbsp. thyme and 1 tsp. pepper; press evenly onto all surfaces of beef Roast.
2. Place Roast, fat-side up, in shallow roasting pan. Insert ovenproof meat thermometer so tip is centered in thickest part of beef, not resting in fat or touching bone. Do not add water or cover. Roast in 350°F oven 2-1/4 to 2-1/2 hr. for medium rare; 2-3/4 to 3 hr. for medium doneness.
3. Meanwhile, heat butter in large nonstick skillet over medium heat until melted. Add remaining 1/4 c. shallots and 1 tsp. thyme; cook and stir 3-5 min. or until shallots are tender and begin to turn golden. Add 3/4 c. broth, wine and cherries to skillet; bring to boil. Reduce heat; cook, uncovered, over medium heat 6- 8 min. or until reduced to 1-1/2 c. Combine remaining 1/4 c. broth and cornstarch; whisk into wine mixture. Stir in remaining 1/8 tsp. pepper; bring to a boil. Cook 1-2 min. or until sauce thickens, stirring occasionally. Season with salt, as desired.
4. Remove Roast when meat thermometer registers 135°F for medium rare; 150°F for medium. Transfer roast to carving board; tent loosely with aluminum foil. Let stand 15-20 min. (Temperature will continue to rise about 10°F to reach 145°F for medium rare; 160°F for medium.)
5. Carve Roast into slices; season with salt, as desired. Serve with Red Wine-Cherry Sauce.
* Nutrition information per serving, 1/15 of recipe (3 oz.)
* Recipe courtesy The Beef Checkoff