Karl, yes it will. F9 BARC, the
Best Concrete Rust Remover will work on stucco and siding too. You usually need to mist the siding with water and MIST a small amount of F9. As soon as the rust disappears, rinse it off. On siding it should only take a minute or two. Always to a test on siding first to get your dilution and application down, as well as to see if there are any adverse reactions.
The only thing to be ware of is not to get it on glass, aluminum or bare metal. Always test on painted metal as sometime the paint can be really weak or not primed before it was applied.
Call me with any questions!
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Thanks,