It depends on your answers to the other guys' questions, and what the bond beam situation is. You may have enough bond beam to develop the tension of the extended rebar using epoxy dowels, you will have to run the calcs. I have done this before but I think I had a concrete tie beam. I think the more conservative but better procedure is to go in between the existing cells and sawcut slots in the wall and through the bond beam to add rebar and solid grout. Now you have new full-height, filled cells at 48" o.c. and partial-height filled cells in-between. Third option is to do both which will give you full height grouted cells at 24" o.c., but this will reduce your steel stress- which may make it more feasible to epoxy dowel into the bond beam.
Your other question is about the cold joint between the old bond beam and the new CMU extension, and you may expect that to crack if you are covering it with stucco. I'd have the architect address that with lathe or some other reinforcement, or perhaps make it into an architectural reveal or add some banding over top of it. I do forensics on residential structures all of the time, mostly CMU with stucco, and see stucco cracks along construction joints constantly.