Kevin Doyle forced a save out of Tom Heaton at the other end, but the Robins should have taken the lead when Steve Davies found himself clean through on goal in the eighth minute, only to drag his shot wide.
City were gifted the lead in the 25th minute through a howler of an own goal by youngster David Davis. The midfielder played a backpass to Ikeme that wrong-footed his goalkeeper and ended up in the net.
Things went from bad to worse for Wolves in the first period as manager Dean Saunders was forced to make two changes due to injuries.
Saunders's side marginally improved after the break and almost drew level in the 52nd minute when Doyle gained possession inside the area and let fly, missing to the right of goal.
Heaton denied Ebanks-Blake in the 64th minute and Sigurdarson fired over two minutes later, but the Wolves fans did not have to wait long to see their side create something of substance.
Ebanks-Blake found the top corner from 12 yards in the 76th minute to draw his side level, and Doyle headed an winner just two minutes later to secure a vital win for Wolves.