Preheat oven to 325 degrees F. Grease and flour a 12-cup bundt cake or tube pan.
PREPARE THE CAKE:
In a medium bowl, whisk together the flour and salt. In a large bowl, use an electric mixer to cream together the butter and sugar. Add the lime zest. Beat in the eggs one at a time, until each is well incorporated. Mix in 1/3 of the flour mixture at a time, alternating with the 7-Up. Stir in the cherries.
Scoop the batter into the prepared pan. Tap the pan on the counter several times to rid the batter of any air bubbles. Bake 1 hour and 15 minutes, or until a sharp, thin knife inserted into the center of the cake comes out clean. Place the pan on a wire rack and let cool for 20 minutes, then place a serving plate over the top and gently flip over. Give the bottom of the pan a few taps if you need to loosen the cake from the pan. Let the cake cool completely on the serving platter before topping with the glaze.
PREPARE THE GLAZE:
In a medium bowl, whisk together the glaze ingredients until smooth. Drizzle over the cooled cake.
Notes
*If you only have regular 7-Up, Sprite, or even generic lemon-lime soda on hand, go ahead and use that- but add in a splash of maraschino cherry juice to make it a cherry flavored soda- and make sure it still comes out to 3/4 cup. For the glaze, use 1 tablespoons of soda + 1/2 tablespoon juice.