The Old Gold were trailing until the 83rd minute before goals from Rayan Ait-Nouri and Hugo Bueno turned the tie around in their favour.
The magic of the cup is clearly not dead, however, as the Sky Blues roared back to seal a famous win and seal a place in the semifinal.
While a couple of players stood out for Wolves, several were underwhelming during the tie, and it cost Wolves a place in the last four and a place at Wembley.
Nathan Fraser started the game as the main focal point for the side, but his performance was lacklustre to say the least.
Nathan Fraser’s game in numbers against Coventry
The youngster is highly regarded at the Molineux outfit and his talent appears limitless. Gary O’Neil had no choice but to throw him in the deep end against Coventry due to Matheus Cunha, Hwang-Hee-Chan and Pedro Neto all missing out through injury.