Preheat the oven to 350 degrees F (175 degrees C). Butter and flour a bundt pan or 10-inch tube pan.
In a bowl, combine the flour, sugar, oil, eggs, vanilla, baking soda, cinnamon, and salt. Mix well. Stir in the cherries and their liquid and the chocolate chips. Pour the batter into the prepared pan.
Bake for about 1 hour, until a cake tester inserted in the center comes out clean. Cool on rack and remove from the pan to cool completely.