As you progress in meditation, the thoughts settle and deeper, buried, hidden stuff comes to the surface. This is completely normal and can include frightening memories or images, visual and auditory hallucinations, long forgotten memories - sometimes traumatic, and, certainly, unexpected feelings like sexual desire or violent impulses that might be harbored somewhere in the depths. This is why it is so valuable (critical!) to have a competent teacher/guide.
My teacher nearly always tells me to observe these thoughts/images and recognize that they are not "me", not who "I" am, but rather thoughts created by everything that has gone to make up this organism's psychological characteristics. The more stuff that comes up, the more you come to understand that "you" are none of these things. "You" simply experience (notice) these thoughts and images. "You", in fact, underlie all beings and similarly, "you" and "I" (which are the same) experience(s) the thoughts of us all but only one at a time...
Meditation absolutely seems to result in an increased experience of feelings like love and compassion unrelated to sexuality. As the underlying unity of awareness begins to take hold, how can you not feel more loving and compassionate feeling towards eachother. At the fundamental level, gender and sexuality is irrelevant.
It's certainly possible that latent homosexuality, bisexuality, or simply normal homosexual fantasies in a heterosexual individual might be uncovered as well. I believe that every human has thoughts and impulses at some level relating to heterosexuality, homosexuality, violence, etc... Each of us express them to different degrees based on an infinite complexity of factors. Who of us is to say what is normal? Normal simply means average. To be normal is to be similar to the majority. It does not mean to be correct or OK or even optimal. That is only for each individual to determine through self realization. Perhaps there may come a time when you choose to develop a closer relationship than ever before with someone of the same gender, perhaps not. Disengage from any anxiety about it as anxiety is simply projecting your past thoughts about this into the future. Rather, just be here, now.
If you have a teacher, talk to them. If you don't, you might consider getting one. Try not to attach to these thoughts too much. Recognize that "you" are not your thoughts. "You" are not homosexual. "You" are not heterosexual. "You" are much beyond anything that can be put into words. Words are simply convenient labels for behavior.
We can never define what a person (or anything else for that matter) is. It is beyond words and beyond our capacity for thought. We can only describe behavior and characteristics. Be with your thoughts without fear for they are not who you are nor can they harm the true you. Go into them deeply and experience them fully. Generally they will then lose power over you and drift off like all the rest.
If significant anxiety, depression, fear, discomfort, etc.. develop as a consequence of awakening new feelings during meditation, don't hesitate to seek out the help of a competent instructor, guide, therapist, or the like. It can be very serious stuff when you become quiet enough and it can be difficult to sift through it alone.
Good luck!
Quick edit to say that I have a slightly different perspective from some of the comments above. I think that absolutely everything is a part of the self in the grand sense and that you can't block anything out or exclude anything. Eventually, every bit of it has to be dealt with, sooner or later. I think (for me at least) that you need to be open to it all and get help as needed to work through it until you transcend it all... I think I'm saying the same thing as joeblast in a slightly different way.