Step 1: Moment of Inertia for a Solid Sphere.
The moment of inertia of a solid sphere of mass \( M \) and radius \( R \) about its diameter is:
\[
I_{\text{sphere (diameter)}} = \frac{2}{5} M R^2.
\]
Step 2: Moment of Inertia about the Given Axis (Parallel Axis Theorem).
Using the Parallel Axis Theorem, the moment of inertia about an axis parallel to the diameter and at a distance \( d \) from the center is:
\[
I_{\text{parallel}} = I_{\text{center}} + M d^2.
\]
Here:
- \( d = 10 \, \text{cm} = 0.1 \, \text{m} \) (distance from the center of each sphere to the axis).
For each sphere, the moment of inertia about the given axis is:
\[
I_{\text{sphere (axis)}} = \frac{2}{5} M R^2 + M d^2.
\]
Substitute \( R = 0.1 \, \text{m} \) and \( d = 0.1 \, \text{m} \):
\[
I_{\text{sphere (axis)}} = \frac{2}{5} M (0.1)^2 + M (0.1)^2.
\]
\[
I_{\text{sphere (axis)}} = \frac{2}{5} M (0.01) + M (0.01) = \frac{2}{5} M (0.01) + \frac{5}{5} M (0.01).
\]
\[
I_{\text{sphere (axis)}} = \frac{7}{5} M (0.01).
\]
Step 3: Total Moment of Inertia for Two Spheres.
Since there are two spheres and the axis passes symmetrically through the midpoint, the total moment of inertia is:
\[
I_{\text{total}} = 2 \times I_{\text{sphere (axis)}} = 2 \times \frac{7}{5} M R^2.
\]
\[
I_{\text{total}} = \frac{14}{5} M R^2.
\]
Step 4: Final Answer.
The total moment of inertia of the system is:
\[
\boxed{\frac{14}{5} M R^2}.
\]