The two clubs agreed a fee for the 29-year-old on Thursday.

He joins Tore Andre Flo, who has moved to the Stadium of Light, for a combined fee of �10m. Flo's deal is said to be worth �6.75m.

Both players are eligible for Saturday's Premiership game with Manchester United at the Stadium of Light,

"Marcus has scored goals throughout his career and has already proved himself in the Premiership," said Sunderland manager Peter Reid.

"He is a very clever striker, very good in the penalty box and a player I admire."

Ipswich chairman David Sheepshanks thanked Stewart for his services to the club.

"It's always disappointing to part with a player of Marcus Stewart's ability," he told the club's website.

"He has been a brilliant buy for this club, and has done incredibly well over the two and a half years that he has been with us.

"On behalf of the club, I'd like to thank Marcus for his tremendous efforts.

"However, I can only reiterate that we would not have agreed to this sale, or others previously, unless they were necessary for the future well-being of the club.

"The need to work within financial limits is no sign of lack of ambition, as we are utterly determined to regain our Premiership status.

"Player sales are simply a consequence of relegation and the cold fact that we cannot afford a squad of the same size as last season in Division One.

"We have a fine squad of players despite Marcus' departure with five other strikers competing for the first-team. We have to look forward not backwards."