Grilled Cherry Cola Spareribs

Place cherry cola in a large saucepan and bring to a boil. Boil about 45 minutes over medium high heat until reduced to 1 1/2 cups. Reduce heat to medium and stir in cherry preserves, Dijon, soy sauce, vinegar and Tabasco. Simmer until reduced to 2 1/2 cups, stirring occasionally. Transfer glaze to a large bowl. Preheat oven to 325 degrees. Wrap rib racks separately in foil. Place ribs on sheet pans and bake about 2 hours until very tender. Cool ribs slightly and pour off fat. Prepare grill. Set ribs on a grill rack and brush all over with glaze. Grill ribs about 5 minutes until brown and glazed. Serve immediately.