Recent advances in Speech Large Language Models (Speech LLMs) have significantly enhanced spoken language understanding and reasoning. However, their contextual awareness is limited, struggling to perform speech recognition that effectively reflects the speaker's intent and topical context. In this paper, we propose LaSR (Latent Speech Reasoning), a novel training paradigm featuring a context-aware reasoning trajectory that leverages the latent reasoning process. Instead of generating explicit intermediate tokens, LaSR aligns chain-of-thought (CoT) supervision around the acoustic feature region of the targeted word, and introduces latent reasoning periods for context information grounding and transcriptional transition. Furthermore, to effectively benchmark contextual recognition on specialized vocabulary, we propose Spoken Darwin-Science, a large-scale corpus focusing on academic terminologies. Preliminary experiments on Fun-Audio-Chat demonstrate that LaSR significantly improves terminology recognition without introducing additional latency and consistently outperforms standard supervised fine-tuning baselines. Our findings highlight the potential of latent reasoning in building efficient, context-aware speech assistants.