Allow your cedar siding to weather a bit, without applying anything to it. You will see the siding turning a darker color. This is the tannic acid seeping out of the wood. Waiting to apply any chemical treatments will prevent the dark color from seeping through paint or stain.
Wash the cedar siding with mild detergent and water, scrubbing with a firm nylon brush. Use a ladder and start at the top of the home and work your way down. Allow the siding to dry for one to two weeks.
Decide which treatment you would like to use for the siding. You can use a clear water-repellent preservative to boost the natural water-repelling qualities of the wood. You can also apply a stain or a primer and a latex paint to the wood. Follow the directions for each on the containers. Work from the top of the house down.