Drain cherries leaving stems intact. Mix peanut butter and sugar in a mixing bowl until thoroughly combined. Flatten one tablespoon of peanut butter mixture into a two inch diameter disc. Lay a cherry on top of the peanut butter disc with the stem pointing up and work it up around the cherry so that the cherry is completely coated. Place each enrobed cherry on a baking sheet covered with waxed paper and freeze for about five minutes to chill slightly. While the cherries chill, melt chocolate according to package directions. Dip cherries one at a time in the melted chocolate and allow the excess chocolate to drip off. Place in a paper candy cup and allow to cool until chocolate is firm.