Drain the cherries, reserving the juice.
Coarsely chop the cherries.
Add enough milk to cherry juice to make 1 cup of liquid.
In a mixing bowl, combine cake mix, cherries, milk/cherry juice, butter, vanilla and eggs.
Mix well with electric mixer.
Pour into greased bundt pan.
Bake 350° for 33-36 minutes.
Remove from oven and cool in pan 10 minutes.
Remove from pan and cool completely.
In a bowl, stir together by hand the butter, powdered sugar and small amount of limeade.
Alternately add more limeade and powdered sugar until you have a thick frosting.
You want it very thick, but not stiff so that it will run down the edges of the cake.
Pour over top of cooled cake.
Top with extra cherries if desired.