Painting Cedar clad house

I recently purchased a timber pole house clad in cedar and stained with a Cabots type finish. It looks pretty crook and I am thinking of painting with something like Weathershield in a trendy colour. I am wondering if anyone has any thoughts on whether this is wise and if so what preparation and/or application I should use. It is rough sawn timber and the existing stain is probably about seven years old and pretty faded but not peeling as such. Someone had suggested I would need to sand it back but I cant start to imagine that, particularly as its two storey. If I were to go the painting route, given how porous the surface is, would spraying be an option?