Prepare the cherry jam a day in advance by cooking pitted cherries, sugar, and lemon juice until thickened. Cool and refrigerate.

Make the cream cheese frosting by beating butter and cream cheese, adding powdered sugar and vanilla, then folding in cooled cherry jam.

Preheat oven to 350°F (175°C) and prepare two 8-inch round cake pans with parchment paper.

Whisk together all-purpose flour, cocoa powder, baking powder, baking soda, and salt in a large bowl.

In a separate bowl, mix oil and sugar, add eggs, vanilla, and milk until smooth.

Gradually combine dry ingredients with wet mixture, folding in optional chocolate chips.

Divide the batter between the cake pans and bake for 30-35 minutes until a toothpick comes out clean.

Cool the cakes in pans for 10 minutes, then turn out onto wire racks to cool completely.

Level the tops of the cakes, layer them with frosting and optional cherry jam, then finish frosting the sides.

Chill the cake for 15 minutes, then spread remaining frosting over the cake and decorate as desired.