Bricks, Masonry, Asphalt and Concrete - Cracked Masonry

I have some masonry that is basically just decorative on the corners of a house I just bought. I am having the siding replaced and would like to do something with the masonry. I want to paint it, but there are cracks and some small chunks missing. I don't want to replace it and end up damaging anything behind it. What I would really like to do is cover all of it with something that is easy to get a smooth finish on or something that looks ok with a rough finish look. Is there a compound or stucco type material that is easy for a novice to work with that fits my needs? It would be great if you can pick a color for the material or end up with something you can paint when you are finished. Start to finish instructions would be great too!!! Am I asking for enough?