Wenger plans to talk to Pearce at the end of the season but is aware the final decision is England's.
Too much pressure: Arsenal's Jack Wilshere could play over 60 games this season
Pearce, who selected the player in his initial squad of 40 on Tuesday, is determined not to budge.
He has the support of FIFA rules and Wilshere, who told FourFourTwo magazine this week: 'I will play for the Under 21s. It's down to Arsene Wenger, Fabio Capello and Stuart Pearce but I will never say no to my country.'
Meanwhile, Alan Pardew is hoping to beat off competition from Liverpool and Tottenham and take Ipswich player Connor Wickham to St James' Park.
The Newcastle boss is hoping regular Barclays Premier League football will be a major draw for the England Under 21 striker.
Pardew, who still has his ?35million Andy Carroll transfer kitty and wants at least two new forwards this summer, signed Wickham for Reading before the 18-year-old joined Ipswich, and has monitored him since.
FA primed for club v country row as Carroll and Wilshere named in U21sWenger warns Capello Under 21 role will scupper Wilshere's senior career
FA primed for club v country row as Carroll and Wilshere named in U21sWenger warns Capello Under 21 role will scupper Wilshere's senior career Explore more:People: Fabio Capello, Andy Carroll, Jack Wilshere, Stuart Pearce, Arsene Wenger Places: Newcastle, Liverpool, Denmark, United Kingdom