1. In a stand mixer fitted with a paddle attachment, beat together the peanut butter and butter then mix in the vanilla. Finally, stir in 2 cups sugar.
2. Chill 1 hour.
3. Pat the cherries dry with a paper towel. Lightly dust with powdered sugar. Wrap each cherry with a rounded teaspoon of dough, rolling it into a ball.
4. Refrigerate 1 hour.
5. In a double-boiler, melt together the chocolate chips and shortening. Holding each cherry by the stem, gently dip into the melted chocolate to coat. Place on a tray lined with parchment paper.
6. Refrigerate at least 1 hour, until firm. Store in the refrigerator.

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