Victory as Foxes scrape a point
own half and Joe Allen nipped in and got a pass away infield to Shaqiri, who was in lots of space.
The Stoke forward advanced towards the penalty area before beating Schmeichel with a low, curling effort from 22 yards out.
It was a blow for Leicester so close to the break, but the hosts responded well at the beginning of the second half, putting Stoke under pressure once more.
But, just like at the start of the match, the visitors dealt with the danger.
Stoke looked comfortable and Shaqiri almost embarrassed Schmeichel with a second goal just before the hour mark. The Danish custodian took a free-kick from a wide position, but his distribution was uncharacteristically poor and the ball went straight to Allen, who passed it to Shaqiri.
With the goalkeeper well out of position, Shaqiri shot from 40 yards out, but his effort curled agonisingly wide as Schmeichel scrambled back.
The Dane survived his error, but a goalkeeping calamity was to strike at the other end, with England international Butland gifting the Foxes an equaliser in the 70th minute.
When Albrighton drilled in a cross from the right-hand side of the penalty area towards teammate Jamie Vardy, it looked like a routine take into the midriff for Butland. However, the ball struck his body and went into the net.
He went some way to making amends shortly afterwards with a superb save to deny Riyad Mahrez. When play developed from the rebound, centre-back Harry Maguire struck a post with a fierce shot.
A last-ditch tackle from Potters defender Kurt Zouma thwarted Mahrez once more and from the resulting corner James’ header hit the same post Maguire had struck shortly before.
In the end Stoke were holding on, but Lambert may feel his team did enough to earn a vital win.