Soften butter (do not melt). Mix flour, pecans and sugar together and add butter. Mix until crumbly. Press mixture into a 9"x13" pan. Bake at 350 degrees until light golden brown, approximately 12 to 15 minutes. Cool in pan. Add filling after crust is completely cooled, 20 to 25 minutes.
Filling: Cream together cream cheese, sugar, milk and vanilla. Fold Cool Whip into cheese mixture. Spread mixture over cooled crust ann top off with cherry filling. Refrigerate unused portions. This makes 1 (9"x13") or 2 (8") round pans.