Hi there Erich,
Any names involving "frozen" can use extra insulating :)
It is a matter of preference, but personally I would insulate via rigid foam board as opposed to firring the walls. Firring and increasing your fiberglass insulation is a completely viable option, but I find the rigid foam to be much less trouble and you can get up to R-8 out of it, exceeding your increase to R-19 on the inside.
If you already have rigid foam on the outside, there is nothing wrong with doubling up on it. Just straddle the joints. Don't attempt to put it on the inside, as it traps any moisture that makes it in into the wall cavities.
You can find some neat info on the board
here and you can find some more detailed info on the corresponding R values
here.
There's tons of ways to insulate, but since you're planning on doing the siding next season, this is the path I would take, barring any extenuating circumstances.
If you're dealing with improperly installed windows, I would take care of those first and get some insulation into those empty wall cavities.
thanks,
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