PREHEAT oven to 325°F. Combine flour, baking powder, cinnamon, salt and nutmeg; set aside. Mix pecans, dates and cherries in large bowl. Add 1 cup of the flour mixture and the cheddar cheese; mix well. Set aside.
BEAT butter and granulated sugar in large bowl with electric mixer on medium speed until light and fluffy. Add eggs, one at a time, mixing well after each addition. Add remaining flour mixture alternately with the applesauce, beating until well blended after each addition. Gently stir in the Cheddar cheese mixture. Pour into well-greased 12-inch tube pan or fluted tube pan.
BAKE 1 hour 10 min. Cool in pan 10 min; remove from pan to wire rack. Cool completely. Beat cream cheese, milk and extract in medium bowl with electric mixer until well blended. Gradually add powdered sugar, beating until light and fluffy after each addition. Spread over the cake.