Pillows & Prayers (subtitled, Cherry Red 1982-1983) is compilation album released Christmas 1982 featuring artists on the Cherry Red record label at the suggestion of A&R head Mike Alway. The record was originally sold at 99 pence (in fact, "pay no more than 99p" was printed on the original sleeve), which helped ensure that the album peaked and remained at number 1 on the UK Indie Chart for 19 weeks and sold over 120,000 copies. Of note are tracks by English post-punk groups Everything But The Girl—whose singer Tracey Thorn also sang on her own solo track and as part of Marine Girls -- The Monochrome Set and Felt, as well as a spoken word piece by writer Quentin Crisp.

In 2007 the album was repackaged as a 3-CD plus DVD box set featuring complementary tracks from the same period and an extended essay by Alex Ogg. This revised edition won the 2008 MOJO Award for Catalogue Release of the Year, with three of the key artists, Martyn Bates (Eyeless in Gaza), Lawrence (Felt) and Bid (Monochrome Set) appearing on stage to collect the award, alongside Cherry Red founder Iain McNay.