Notepad++ "Compress whitespace" effect

I'm looking for a mechanism within notepad++ to replace runs of consecutive whitespace with a single space, like the "Compress whitespace" command in notepad2.

Essentially, in regex form:

s/\s+/ /g

I know I can do it with the find-replace form, but I would prefer soemthing that I can bind to a keyboard sequence.

EDIT

Find and replace cannot be recorded as a macro in some versions of Notepad++. Update to the latest if you have trouble.

Solution 1:

You should be able to set this regex up as a macro and then bind the macro to a shortcut.

Settings > Shortcut mapper... > Macros

Solution 2:

Edit > Blank Operations > Remove Unnecessary Blank and EOL

Not sure if that's a default feature or plugin, but there's always a million plugins to do anything else.
The TextFX Plugin is worth a look as well.