Stearman has made eight appearances for City, scoring his first goal for the club in a 3-1 home win over Millwall.
Porter has been in impressive form for the academy and the reserves, and looks set to make the breakthrough in to the first team squad next season.
Squad:
Ben Alnwick (Sunderland), Moses Ashikodi (West Ham), Nathan Ashton (Charlton Athletic), Tom Clarke (Huddersfield Town), Nathan Doyle (Derby County), Nathan Dyer (Southampton), Kerrea Gilbert (Arsenal), Danny Guthrie (Liverpool), Joe Lewis (Norwich City), Ben Parker (Leeds), Shane Paul (Aston Villa), Levi Porter (Leicester City), Kyel Reid (West Ham), Gary Roberts (Crewe Alexandra), James Smith (Chelsea), Richard Stearman (Leicester City), James Walker (Charlton Athletic), Simon Walton (Leeds).