Two second-half goals in three minutes from Alan Lee condemned Roy Keane to his first defeat as Sunderland manager. The visitors took the lead through an own goal from Jason De Vos on 28 minutes, but a Darren Currie free-kick levelled the scores four minutes later.
Lee grabbed his first with a header on 62 minutes before a right-footed finish three minutes later.
Sunderland ended the game with 10 men after Ross Wallace was sent off for a second bookable offence.
Ipswich manager Jim Magilton:
"Once again I am very proud of my players. They showed great character and tremendous team spirit and overall I think we deserved to win. "Alan Lee's first goal was a fantastic header and I was delighted for him. He has played catch-up since pre-season after returning from an operation.
"He's worked very hard and now he is in tip-top shape he's getting his reward."
Sunderland boss Roy Keane:
"There's very little between teams in this league and if you make mistakes you expect to be punished. "We didn't play particularly well and gave three silly goals away. It hurts a lot to lose but now it depends on how we react.
"What is most disappointing is that the game was there to be taken."
Ipswich: Price, Richards (Moore 90), De Vos, Naylor, Harding, Noble, Williams (Bowditch 87), Sito, Currie, Macken (Clarke 73), Lee.
Subs Not Used: Supple, Wilnis.
Booked: De Vos, Noble, Williams, Sito.
Goals: Currie 32, Lee 63, 66.
Sunderland: Alnwick, Neill Collins (Lawrence 70), Cunningham, Varga, Robbie Elliott, Liam Miller, Whitehead (Leadbitter 45), Kavanagh, Wallace, Brown (Hysen 45), Yorke.
Subs Not Used: Ward, Danny Collins.
Sent Off: Wallace (86).
Booked: Varga, Brown, Wallace, Whitehead.
Goals: De Vos 29 og.
Att: 23,311
Ref: M Russell (Hertfordshire).