Gordon Strachan's first match in charge at St Mary's failed to deliver a first win for Southampton at their new home. The former Coventry boss saw his new side throw away a two-goal advantage twice and then somehow hold on for a point.
Saints got off to a flier when James Beattie headed in a Marian Pahars cross in the 15th minute. Beattie then returned the compliment for the Latvian to double the lead after 23 minutes. But Ipswich refused to lie down and Marcus Stewart headed in a Mark Venus ball after 38 minutes.
Chris Marsden made it 3-1 after 52 minutes, following up to score after a shot from Pahars was parried by Matteo Sereni. But the Tractor Boys came back again when Venus netted from long range with 26 minutes to go. And with 17 minutes remaining Stewart headed the equaliser.
SOUTHAMPTON: Jones, El Khalej, Bridge, Delap (Petrescu 70), Lundekvam, Ripley (Dodd 56), Oakley, Tessem (Rosler 83), Marsden, Beattie, Pahars. Subs Not Used: Moss, Davies. Booked: Beattie. Goals: Beattie 14, Pahars 23, Marsden 52.
IPSWICH: Sereni, Makin (Wilnis 45), Venus, Hreidarsson, McGreal, Clapham, Holland, Peralta, Wright, Stewart, Armstrong (Naylor 46). Subs Not Used: Branagan, Reuser, Magilton. Booked: Peralta. Goals: Stewart 38, Venus 64, Stewart 73.
Referee: U Rennie (Sheffield).