In a small bowl, with electric mixer at high speed, beat egg white until soft peaks form.
Gradually beat in 2 tablespoons of the sugar, and beat until stiff peaks form.
Cover and set aside.
In a medium saucepan, mix together milk, 2 tablespoons of the sugar and egg yolk.
Heat to a rapid boil, while stirring constantly.
Slowly sprinkle in cereal, while continuing to stir briskly.
Return to a boil.
Reduce heat and simmer for 8 minutes or until thickened, stirring occasionally.
Transfer beaten egg whites to a medium size mixing bowl.
Slowly pour hot mixture over egg whites, while stirring with a whisk.
Stir in vanilla.
Spoon pudding into 4 dessert dishes.
Chill until serving time.
Garnish with whipped topping and cherries if desired.
