Vinyl siding over existing wood siding?

Just bought a house, exterior is wood siding (moderate condition), It was painted over with a bumpy textured paint almost like stucco. I want to add new vinyl siding. Here's my idea, cover with fan fold foam, to get a smooth layer for siding. Then cober fanfold with tyvek cover. Finally add vinyl siding. Does this seem possible, it would be too hard to remove paint from current siding.