I can see why this would be a bad idea (it would be tough to add the necessary fabric).Â But I would think that taking the pleats out would be easier.
It wouldn't have even been possible had the pants not been about a 36" waist size, while my waist is 30". Granted, it's easier to take fabric out than to put it in, but you run into the same problem either way, which is the drastic change to the balance of the garment. Once you take the pleats out, where does all the extra fabric go? Are you going to just tuck your pockets well into your side seams, or create a new seam down the center of the leg? The only way to make an operation like this end successfully is with some serious tailoring, and that doesn't come cheap. OK, it might still be cheaper than springing for a Kiton suit, but there are relatively inexpensive suits out there that feature flat-front trousers. Maybe if you can give us an idea of your suit budget and your location, someone here could recommend suits more to your liking, and places to find them.