More importantly, how are you going to get the new one in
But seriously, when I'm in a similar situation I make my decision on what to do based on whether the item is headed for the landfill. If the item is truly junk and of no further value then I do whatever's necessary to make the item small enough. I cut bend mutilate, whatever it takes.
It is possible to get it out, but again, is the new one identical is size? If so, I'd be careful about destroying the old one until the puzzle is solved.