In very humid areas such as Newfoundland, no. In other areas it doesn't really matter except for brick siding. (search keyword "Brick" for the title "CAN I SHOOT INSULATION INTO THE AIR SPACE BEHIND THE BRICK FACING?")
Siding has little or no thermal insulating value; it is a rain shield. An air space behind the siding has little effect on the temperature of the wall. Above all, the siding must breath easily, and an air space will usually help it to do that. In Newfoundland, where high humidity demands exceptionally good breathing capacity from a wall, insulated aluminum siding is not allowed because it doesn't vent as well as ordinary aluminum siding. Nailing wood laths to the sheathing, or through exterior insulation to the sheathing, is the easiest way to attach most sidings. This automatically creates an air space. It is not lost insulation space, because it is on top of the insulation, and is not locked in like the traditional but no longer recommended air space between interior insulation and the sheathing. Let the air space help you ventilate.