Blackpool have signed Derby striker Kwame Thomas on a six-month loan.
Norwich City have secured the services of Liverpool defender Andre Wisdom in a season-long loan deal.
The 25-year-old has joined Town until the end of the season and provides a welcome boost to the club's defensive ranks after Bradley Orr was recalled by parent club Blackburn.
Manager Mick McCarthy knows Stearman well from his near six-year spell in charge at Molineux having signed him from Leicester in the summer of 2008.
Stearman has found first-team opportunities hard to come by for Wanderers this term, starting just eight league games.
However, he has made a total of 142 appearances during his four and half years at the Black Country club.
Meanwhile, Wolves have appealed against Roger Johnson's red card in Saturday's 2-1 defeat against Blackpool.
The centre-back was sent off in the closing stages following an altercation with Angel Martinez and faces a three-match suspension.