In a medium saucepan, bring 2 cups of water to a boil. Once boiling, remove from heat and add the Earl Grey tea. Let it steep for 5 minutes for a strong flavor. If using tea bags, simply remove them after steeping.
Strain the tea into a pitcher or bowl to remove the leaves. Allow the tea to cool to room temperature.
Once the tea is cooled, stir in the cherry juice, honey (or sugar), and vanilla extract until well combined.
Add the milk to the mixture and stir gently to combine. Taste and adjust sweetness if necessary.
If serving cold, fill glasses with ice cubes and pour the Cherry Earl Grey Milk Tea over the ice. If serving warm, simply heat the mixture gently on the stove until warm.
Garnish with fresh cherries if desired and serve immediately.