Insulating Paint Additive used on our Eichler-how 2 remove?

The previous owner of our home painted the entire exterior utilizing a paint with an insulating paint additive which creates a fairly rough textured appearance throughout.

We aren't fond of the textured look and don't subscribe to the original owners belief that this additive increases the R-factor. We are interested in repainting the exterior however we aren't sure how to best deal with this texturing. Can anyone provide suggestions on how we might be able to remove this textured additive from the siding so that we can repaint? Since all of the siding is impacted, we really don't want to remove and replace it since it would require an extensive amount of siding ($$$$$) and most of our siding is in good condition.

Any tips/suggestions would be greatly appreciated.