Another site to go to on Obama's position is

Advance Stem Cell Research:Despite recent advances pointing to alternatives like adult stem cell and cord blood, embryonic stem cells remain unmatched in their potential for treatment of a wide variety of diseases and health conditions. Barack Obama has been a long-term supporter of increased stem cell research. He introduced legislation while a member of the Illinois Senate that would allow embryonic stem cell research in Illinois. Obama has cosponsored legislation to allow greater federal government funding on a wider array of stem cell lines. Obama believes we need high ethical standards that allow for research on stem cells derived from embryos produced for in vitro fertilization, embryos that would otherwise be needlessly destroyed.

http://www.barackobama.com/issues/technology/