Preheat oven to 180°C/160°C fan-forced. Grease a 6cm-deep, 20cm (base) round cake pan. Line base and side with baking paper.

Place cake mix in a large bowl. Add eggs, butter and milk. Using an electric mixer, beat on low speed for 30 seconds or until just combined. Increase speed to medium. Beat for 4 minutes or until mixture is pale and creamy. Stir in cherries and 1/3 cup coconut.

Pour into prepared pan. Bake for 45 to 50 minutes or until a skewer inserted in the centre comes out clean. Cool in pan for 5 minutes. Turn out onto a wire rack to cool completely.

Meanwhile, make Chocolate ganache: Place chocolate and cream in a microwavesafe bowl. Microwave on high (100%) for 1 to 2 minutes, stirring every 30 seconds with a metal spoon, or until smooth. Refrigerate for 30 minutes or until slightly thickened.

Place remaining coconut on a baking tray. Spread side of cake with ganache. Roll side of cake evenly in coconut. Place on plate. Spread top with remaining ganache. Set aside for 15 minutes or until set. Serve.