Bake cake, according to directions, in two round 8 or 9 inch pans. Remove from oven to cool.
While cakes are cooling, prepare vanilla pudding mix according to package directions. While pudding is cooking, pinch or cut off small pieces of the cream cheese and drop into the mix.

Continue stirring until all cream cheese is melted.

Take cooled cakes and cut in half horizontally. In a large bowl (Gramma always used a punch bowl, but you can use any large bowl), layer cake and pudding mix, alternating layers and ending with pudding mix. Open can of cherry pie filling and pour over all. Cool in refrigerator for about 30 minutes to one hour to give pudding time to set up.

Note: Use whatever cake mix  flavor your family likes with cherry pie filling. I've used yellow, white and devils food.