I had this problem many years ago on a home that was completely sided in red cedar. He pecked a hole in one of my corner boards. The only thing that scared him away is I hung a couple of tin pie plates from the corner of the overhang. It was in the front of my house so it was a conversation piece every time we had company.
I had another incident on another house where a wood pecked was pecking on an aluminum gutter so it wasn't a bug issue.