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Skim-coating with joint compound covers texture, renews old drywall and plaster, and leaves smooth surfaces ready to paint.
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"I have learned so much thanks to the searchable articles on the FHB website. I can confidently say that I expect to be a life-long subscriber." - M.K.
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One stucco like product that can be applied over osb is STUCCO!!!! If, on the other hand, what you want to do is eliminate the felt and lath and take a lazy way out to simply apply a product directly to the osb, then there is nothing that will give satisfactory long term performance.
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I used an acrylic stucco product directly over cdx and directly over foam for an outdoor wall about 8 years ago and it still looks perfect. The stuff was sticky as could be and like rubber when dry. I live in Denver where hail pounds it regularly, but it's otherwise pretty dry.
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KP,
Where Are you?
Rick Tuk
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KP
You might consider an exterior-grade, polymer-modified thinset mortar as used to set backer board and ceramic tile. It adheres to almost everything, and comes in white and grey. The white can be colored with any concrete coloring pigment.
Another option would be to apply "Surewall" to a scratch coat of the thinset already mentioned. The "Surewall" is reinforced with fibers, and is very strong after allowed to moist cure. It also can be colored with any concrete coloring pigment.
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