Directions:

To prepare limeade, combine fresh squeezed lime juice with sugar and water and mix until sugar is dissolved.

Margarita:
In a small pitcher combine limeade with cherry juice, triple sec and tequila. Stir to combine; serve over ice, garnished with cherries and lime slices as desired.

Non-alcohol version:
Mix together limeade and cherry juice. Pour into glasses with ice to about 2/3 full, then top with lemon-lime soda and garnish with cherries or lime slices as desired.