In a large bowl or jar thoroughly combine the oats, water, yogurt, nuts, honey, lemon juice, vanilla extract and chopped cherries. Cover and chill in the refrigerator for at least 4 hours to overnight.
When ready to serve, prepare the cherry banana nice cream.
In the bowl of a food processor, place the frozen cherries and frozen sliced bananas. Pulse several times and scrape down the sides. Process and scrape sides until smooth and creamy "ice cream" results. Drizzle in the agave and process once more time.
Divide overnight oats and nice cream to serving bowls and top with desired toppings.