Add enough cold water to reserved juice to measure 1-1/2 cups; set aside. Arrange 7 pineapple slices in single layer on bottom of 9-inch round cake pan.
Place maraschino cherry half, cut side up, in center of each pineapple slice. Chop remaining pineapple slices; set aside.
Stir boiling water into gelatin in large bowl at least 2 min. until completely dissolved.
Add pineapple juice; mix well. Reserve 1 cup of the gelatin mixture; set aside at room temperature. Refrigerate remaining gelatin mixture about 1-1/2 hours or until thickened (spoon drawn through leaves a definite impression).
Add chopped pineapple to thickened gelatin; spoon over pineapple slices in pan. Refrigerate about 30 min. or until set but not firm (gelatin should stick to finger when touched and should mound).
Add reserved gelatin gradually to cream cheese, beating with whisk until well blended.
Pour over gelatin layer in pan. Refrigerate 4 hours or until firm. Unmold.