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Canadian Member
Join Date: Nov 2003
Location: Shuswap Lake, BC
Posts: 4,483
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3/4" is over kill.
you have exterior grade plywood that will hold up to an exterior application but NO WAY will it withstand any direct contact with the elements.
You can protect it with a building paper and siding material.
Paint or stain will help, but if the ply is in direct contact with the elements (rain, snow, sun) then it's not going to last long.
Make sure you have an 18" or 24" soffit overhang above, this will help protect it and you'll prolly be OK considering the price.
Good luck
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Rob McKibbon
Arena Red 96 993 TT LINK
Contemplate YOUR Success! 
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