Long before going for a full panel respray and all of the hassle that can entail, I'd try a spot repair. Kurust it and touch it in with a colour match tin.
If you add sufficient paint in thin layers to sit proud of the surface and wet sand it back down, a good polish will have it sorted and you'll be protected for a long time to come. I've done this a few times on similar sized spots and if you take your time, you can achieve a near invisible fix.