First, like mold and some other environmental issues, unless you are an expert, don't call it asbestos siding.
Under fed regulations even if is called asbestos like siding, it must be treated as if it really is asbestos until it can be proven otherwise.
I ran into just situation several years ago where on a commercial property they had some buildings which were actually asbestos appearing (and I think still that the roof, and the siding of the entire buildings were consructed of this stuff which was about 3/8 inch thick. I checked with Ill EPA, I was sent a booklet, and the above is what was in the book. I described its appearance and went on with my report. This was for a re-fi loan, the owners were the loan applicants.
Now about 15 years later they are still in use, unchanged.
As far as residential, as has been posted above, not all asbestos appearing materials are, in fact asbestos.
It has been often on recent years that the material can be "contained" and not removed. I have seen good looking vinyl siding jobs do the job.
Wayne Tomlinson