Heat oven to 350°F. Line 12 standard-size cupcake-pan cups with paper liners.
In medium-size saucepan, melt butter over medium heat. When butter is nearly completely melted, stir in chocolate. Let begin to soften over heat, 1 minute. Remove from heat; stir until smooth and melted. Stir cherry jam, sugar, salt and eggs into chocolate mixture. Stir in flour. Spoon 1/4 cup batter into each prepared cup.
Bake in 350°F oven 25 minutes or until toothpick inserted in centers comes out clean. Let cool in pan on rack 10 minutes. Turn cupcakes out.
In small saucepan, combine chocolate and cream. Bring to boiling. Transfer to medium-size bowl. Whisk or beat until thick and smooth. Ice each cupcake with about 1 tablespoon icing, smoothing with back of spoon. Garnish each with cherry.
