Is it possible to lose the fat accumulating in my stomach causing the extended belly by increasing my level of aerobic exercise?

thank you

That's the theory! Start by finding out if that fat is really the underneath fat you think it is... If it is mostly on top (you can yank a chunk of it between your fingers at your belly button level), then you can look into both diet and exercise to deal with normal fat deposition. But if most of it is layered under some of the muscle (not "yank-able"), then there may be some visceral fat that can change the way your body metabolizes fats and other nutrients.

Some aerobic exercise is likely to be needed to appropriately metabolize and store fat. To date, there are some small studies that suggest benefit to body shape through exercise. We are hoping more data will support this notion. However, please be aware that exercise, like other interventions, should be monitored to assure that you get maximum benefit at minimum risk. A physical therapist may be able to provide you with an evaluation of your current exercise and assist you in designing a program that benefits you. Then, head to the dietitian periodically to quantify body composition and any body shape changes.