Bake pie shell according to package directions.
In a small saucepan, combine unsweetened chocolate and 1/2 cup of sweetened condensed milk. Heat over medium-low heat, stirring constantly, until chocolate is melted.Stir in 1/4 teaspoon almond extract.
Pour chocolate mixture into pie shell. Set aside.
Set 8 cherries aside for garnish, and chop the remaining cherries.
Add cream cheese to a large bowl. Use a hand-held mixer to beat it until smooth and fluffy.
Add the remaining sweetened condensed milk and beat until smooth.
Beat in the water and then the pudding mix and remaining almond extract, beating until it starts to thicken.
Fold in whipped cream and the cherries. Transfer to the crust.
Refrigerate for at least 4 hours.
Garnish with chocolate and cherries and serve.