Peel and slice peaches; slice oranges thinly using skin and pulp. Combine peaches, oranges and sugar. Tie peach stones in a cheesecloth bag and add to peaches with syrup from cherries. Simmer 3 hours; add lemon juice and simmer 5 more minutes. Remove peach stones and add chopped cherries and pectin. Stir and let stand for 5 minutes. Pour into sterilized jars; seal. Yield: 6 (16 ounce) jars