Kaz,
I used 3/4 Birch.
It is very well sealed with varnish.
It is 8 years old now, with no issues.
That said, it is stored indoors, I would not even consider keeping it outside exposed to the elements unless it was protected with epoxy and cloth.
The plywood you choose does not need to be exterior rated, though it sure doesn't hurt...
Any plywood can be sealed againt moisture, you can seal cardboard just as well.
The long term issue isn't sealing the material, but rather keeping it sealed.
A wood exterior requires more maintainance than aluminum, filon, and the like.
Rob

Waiting for "someday" will leave you on your deathbed wondering why you didn't just rearrange your priorities and enjoy the time you had, instead of waiting for a "better" time to come along...