Antti Niemi parried a fierce Momo Sylla effort before Elvis Hammond squandered a free-header from four yards out.
Ricardo Fuller was narrowly wide with a snap-shot, while Dion Dublin's header was spectacularly saved by Niemi.
Rab Douglas denied Theo Walcott in the second half and substitute Ian Hulme's header was palmed away by Niemi in the last minute to ensure the stalemate.
Southampton boss Harry Redknapp:
"Turning draws into victories is our biggest problem, but having Marian Pahars fit again is a big boost for us. "If he manages to play the best part of a season he'll get 20 goals for us but keeping him fit for the best part of the season is the biggest problem.
"He's just one of those players who are unlucky with injuries."
Leicester: Douglas, Maybury, Gerrbrand, McCarthy, Johansson, Sylla (Hamill 70), Kisnorbo, Williams (Tiatto 64), Smith, Hammond (Hume 76), Dublin.
Subs Not Used: Henderson, Stearman.
Booked: Douglas.
Southampton: Niemi, Delap, Svensson, Lundekvam, Higginbotham, Belmadi, Oakley, Quashie, McCann (Pahars 72), Walcott, Fuller (Kosowski 90).
Subs Not Used: Smith, Powell, Wise.
Booked: McCann, Lundekvam.
Att: 21,318
Ref: S Tanner (Somerset).
MMIX
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