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Sauté shallots, peppercorn, thyme, and bay leaf in butter for 1–2 minutes or until shallots are translucent.
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Add port and red wine and reduce by half. Add demi-glace and whisk until dissolved.
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Add enough water to reach desired sauce thickness. Strain the sauce and return to the pan.
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Add sun-dried cherries and cream (and stir in additional butter, if desired) and return to a simmer while whisking. Serve with roasted turkey, chicken, or other poultry.