Heat oven to 180°C (170°C for dark or nonstick pan). Generously grease bottom only of 13x23cm pan with shortening; lightly flour or spray with baking spray with flour.
Drain pineapple in colander set over a bowl, pushing pineapple against side and bottom of colander with back of spoon to squeeze out as much juice as possible; reserve juice. Drain chopped cherries on paper towels; pat dry.
Add enough water, if necessary, to reserved pineapple juice to measure 75ml. In large bowl, beat cake mix, pineapple, bananas, oil, cinnamon, pineapple juice mixture and eggs with electric mixer on low speed 2 minutes. Stir in cherries. Pour into pan.
Bake 35 to 40 minutes or until cake springs back when touched lightly in center. Run knife around side of pan to loosen cake. Cool completely, about 1 hour.
To make the Homemade Vanilla Glaze, in medium bowl, mix powdered sugar, 1 tablespoon milk and the vanilla. Stir in additional milk, 1 teaspoon at a time, until smooth and consistency of thick syrup.
To make the Easy Vanilla Glaze, spoon frosting from container into microwavable bowl. Microwave uncovered on High about 15 seconds or until frosting can be stirred smooth and is thin enough to drizzle. (Or spoon frosting into 1-liter saucepan and heat over low heat, stirring constantly, until thin enough to drizzle.)
Spread glaze over top of cake. Store cake loosely covered at room temperature.