Curtis Davies' equaliser saw Birmingham avoid a third successive defeat and handed Michael Appleton a fourth draw in as many matches as Blackpool manager.
Having watched them battle back from behind in each of his first three games at the helm, Appleton was granted the unfamiliar pleasure of the Seasiders taking a 17th-minute lead courtesy of Tom Ince's fifth goal in six appearances.
Davies headed Blues level, as he had done in the second leg of their play-off semi-final defeat to Blackpool last term.
Birmingham forward Peter Lovenkrands came closest to finding a winner when he venomously tested the crossbar, but Lee Clark's men remain 19th in the npower Championship table with two wins in their last 11 outings.
Blackpool are also struggling to recreate last season's form and sit three places and four points better off.
Ex-Blues striker Phillips was looking to score against a former club for the second consecutive game and the 39-year-old was involved again when the hosts went in front.
Ibanez blocked Phillips' shot from Kirk Broadfoot's drilled right-wing cross before Ince collected the loose ball to calmly stroke home from 18 yards.
Having taken the lead slightly against the run of play, Blackpool looked to press home their advantage.
Nathan Delfouneso had Jack Butland at full stretch to tip over a dipping effort and Phillips converted from an offside position after Ince exchanged passes with Gomes to plant a shot onto the bar.
The pace of Ince and Delfouneso was causing Birmingham problems in wide areas, with Broadfoot supporting ably from right-back.
Seasiders goalkeeper Matt Gilks enjoyed his first significant action of the half two minutes before the break when Jonathan Spector's overhit cross from the left forced him to tip over.
It was therefore unexpected when Gilks found himself picking the ball out of the net three minutes after the restart, Davies rising highest to convert Wade Elliot's inswinging corner.
An even contest developed and as the hour approached Lovenkrands slipped the attentions of the Seasiders backline to rattle the bar with Gilks beaten.
As the goalmouth action threatened to dry up Ince almost produced a moment of magic, arching a magnificent 25-yard effort just beyond the top corner.