Dissolve yeast in warm water. In another bowl, mix flour, sugar and salt; cut in butter until crumbly. Add milk, egg yolks and yeast mixture; stir to form a soft dough (dough will be sticky). Cover and refrigerate 8-24 hours.
To assemble, punch down dough; divide into 2 portions. On a lightly floured surface, pat each portion into a 9x4-in. rectangle; sprinkle each with cinnamon. Cut each rectangle lengthwise into four 9x1-in. strips. Twist each strip, then loosely wrap strip around itself to form a coil; tuck end under and pinch to seal. Place 3 inches apart on greased baking sheets.
Beat cream cheese spreads and egg yolk until smooth. Press an indentation in center of each roll; fill with 1 rounded tablespoon cream cheese mixture. Cover; let rise in a warm place until doubled, about 45 minutes. Preheat oven to 350°.
Whisk egg white with water; brush over rolls. Bake until golden brown, 15-20 minutes. Remove to wire racks; brush with syrup. Add cherry jam if you desire. Serve warm.