Former Royals midfielder James Harper looked to have given the Tigers all three points when he curled home from long range in the 39th minute but Simon Church equalised from point-blank range after Hull failed to clear Ian Harte's free-kick from the left flank with eight minutes remaining.
It was just reward for the Royals, who had seen a Shane Long penalty saved by Vito Mannone after Paul McShane had cynically brought down the striker.
Pearson said: "We didn't throw it away. The goal was disappointing, but we played pretty well.
"I'm pleased with the players, and I thought the application was good and we were the better team.
"We had decent tempo and I don't think we've played like that enough at home with that intensity. We could have won it at the end, but we will just have to make sure we win the next game."
Source: PA
Source: PA