Whip cream cheese. Continue whipping while adding condensed milk; whip until smooth. Beat in lemon juice and vanilla. Turn into 9-inch baked graham cracker crust. Chill. Meanwhile, drain cherries and save the juice. In a saucepan, combine cherry juice, sugar and cornstarch. Cook until clear. Remove from heat and stir in drained cherries. Carefully spoon cherry mixture on top of chilled pie. Chill one hour more before serving. Serves 8