Not a big problem although the ivy will leave "holdfasts" the siding and removing it later could be a bit difficult. Also you want to be sure the siding is not loose. As an alternative you might consider placing a trellis out from the wall a small distance.
Then you can grow a wall of vines and not have to be concerned about any siding issues plus you would be able to use vines with tendrils as well as twining vines.
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