Slice bananas in half lengthwise and then crosswise so each banana yields 4 pieces, don't peel them.
Brush honey on cut sides and let stand 5 minutes.
Charcoal grill: grill bananas, cut side down, on the rack of grill, directly over hot coals, covered, until grill marks appear; turn over and grill 4-5 minutes more or till skin pulls away from banana.
For gas grill: place bananas on grill rack over low heat, cover and grill bananas as explained above.
Peel banana pieces; arrange 2 pieces in each of 8 serving bowls; top each with 2 small scoops of ice cream; ladle 2 tablespoons of hot fudge sauce over each sundae; sprinkle with 1 tablespoon chopped nuts, add whipped cream and place one cherry on top.