The former England under-21 international qualifies for the Boys in Green through his maternal grandparents and the FAI are set to confirm his availability for selection
The Football Association of Ireland (FAI) is now close to completing the paperwork in order to ensure that the defender is available for international selection, according to the BBC.
The 25-year-old centre back was born in Wolverhampton and is a former England under-21 international, but is keen to declare his international allegiance to Giovanni Trapattoni's team. Stearman qualifies for the Boys in Green through his maternal grandparents and revealed his intentions in February 2013.
"It's in the process at the moment. I am gaining a passport and citizenship and hopefully that will be not far around the corner," he told the East Anglian Daily Times. "All my family on my mother's side are Irish and I am looking to get on the international scene."
Able to play at right back as well as centre back, Stearman spent the second half of last season on loan at Ipswich Town, where he linked up once again with former Wolves manager Mick McCarthy.
And, according to the Irish Times, McCarthy, who signed Stearman from Leicester City in 2008, is hoping to bring the centre back to Portman Road on a permanent basis.
However, the player still has one year remaining on his current deal and Wolves are unlikely to let the player leave for less than €1.3 million (£1.1 million).