Is $70,000 to replace cedar plank siding with Hardie Board a fair price?

I just bought an 80's home with cedar siding, and some of it has suffered rot and needs replacing. The contractor is unable to find a matching cedar plank, so he suggested either getting it custom made/ordered or replacing it with another type of wood. I plan to repaint the house myself within 6 months. I'd love to patch and fix the siding, repaint it, and hopefully have it last another 10 years, though the contractor says it's more like 5 years. I was quoted $70,000 for Hardie Board, which is not in my budget for a while. I'm looking for thoughts on whether patching/replacing cedar siding with another wood and painting it would stick out.