Scrape the paint off the wall using a paint scraper.
Sand the wall until smooth using a power sander.
Repair or replace any damaged siding. Broken siding cannot not be painted evenly and could allow water to seep in to the wall causing rot.
Tape off the sections you do not want to paint such as windows and gutters with painters' tape.
Lay down plastic sheeting over the ground and any shrubbery within three feet of your house for protection against paint drips.
Paint the wall with a coat of house paint primer.
Paint the wall with the exterior house paint.