The slip-up from Mick McCarthy's men provides Town with a chance to go top of the League at Portman Road, should they win against Wolves on Monday, then beat Sunderland at Portman Road in the following game.
Julio Arca deservedly put the Black Cats ahead in the 52nd minute with his seventh goal of the season only for Dave Kitson to strike twice in a six-minute spell to turn the form book upside.
Speaking after the game, Sunderland Manager Mick McCarthy said: "Nobody can go away and say we took our eye off the ball or took our foot off the pedal.
"We chased the game from the start and perhaps we had too much possession, became hurried and not clinical. On a different day it might have happened and if that's the case we have to make sure it doesn't happen again.
"It was always going to be a big game but we are still in the best position. We should have got something out of the game, we didn't, and it's time to move on.''
Click here for a full report on the game with further quotes from both managers via Sportbox.tv, the very first free live video sports web station..