Well smooth will go on better ( easier) but are you sure you want to do this? - Don't underestimate just how a big a job it is. It depends how big the wall is, of course. But this type of paint is heavy. Every brush load is heavy to work with.
You need to brush the surface down with a wire brush or similar before you start.
You may wish to use a "stabilising solution" first, to ensure the paint adheres properly. The stabilising solution may be watered down with a little turps, this will allow it to soak into the pebbledash a little better. If you apply stabilising solution "neat" it just forms a plasticky sort of coating on the pebble dash, which will flake off over time.
All I am saying is, once you paint a pebble dash wall, don't forget you will have to RE- paint it every few years. To maintain it. Otherwise it will start to flake. You have "made a stick for your own back" , in effect.