In a small saucepan, combine the granulated sugar and 1 cup of water. Heat over medium heat, stirring occasionally, until the sugar is completely dissolved. This will create a simple syrup. Remove from heat and let it cool to room temperature.
In a blender, combine the pitted cherries and Italian Volcano lime juice. Blend until smooth.
In a large pitcher, combine the cherry-lime mixture, simple syrup, and 4 cups of cold water or sparkling water. Stir well to combine.
Taste the cherry limeade and adjust the sweetness by adding more sugar or simple syrup if desired.
Refrigerate the cherry limeade for at least 30 minutes to chill.
To serve, fill glasses with ice cubes and pour the chilled cherry limeade over the ice.
Garnish each glass with a fresh cherry, and a sprig of mint if desired.
Stir the cherry limeade before serving to distribute the flavors evenly.