Put the milk, water, and salt in a medium saucepan over medium-high heat; bring just to boiling (watch carefully so it doesn't boil over). Stir in the couscous and orange peel; remove from heat. Cover and let stand for 5 minutes.
Fluff the couscous with a fork. Stir in the almonds and cherries. Serve immediately.
If using fat-free milk, serve the couscous with a sprinkling of sugar.