In a large mixing bowl, beat the cream cheese and powdered sugar until smooth
Fold in the whipped topping and vanilla extract until fully combined
In a 9x13-inch dish or trifle bowl, spread half of the angel food cake cubes evenly at the bottom
Spoon half of the cream cheese mixture over the cake layer and spread evenly
Add half of the cherry pie filling on top
Repeat the layers with the remaining cake, cream cheese mixture, and cherry pie filling
Refrigerate for at least 2 hours before serving for the best texture