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Flashback: Couples at the Golden Globes, Marc Anthony, Jennifer Lopez

Steve Granitz/WireImage.com

Jennifer Lopez and Marc Anthony are a match made in musical heaven.

Five years after the couple ended their seven-year marriage, Anthony's Magnus Media and Sony Music Latin announced Thursday that they have entered a new business deal with Lopez. The companies will be developing and producing Lopez's upcoming Spanish language album, slated for release in November. Anthony will serve as the collection's executive producer, and his company will also "provide consulting services to Lopez in the areas of marketing, content development, and touring specifically for the Hispanic market," the companies told E! News.

"I am so excited and really looking forward to this new musical journey and to celebrate my Latin roots with Marc Anthony and the Sony/Magnus family," Lopez, 47, said in a statement.

Anthony, who started his company in 2015, echoed her sentiments. "It is an honor to welcome Jennifer to the Magnus Family. She has had enormous accomplishments in her career and has been representing our culture all over the world from day one. Her artistry, professionalism and passion for music are just some of the many attributes that have earned her a unique place in the entertainment world that very few people have been able to obtain," he told E! News. "I am looking forward to our creative collaboration and to be part of continuing her musical legacy."

"Jennifer is one of the most iconic Latina superstars of all time and a longtime member of the Sony family," said Afo Verde, Chairman & CEO, Latin America, Spain and Portugal, Sony Music Entertainment. "We're very excited to partner with her and Marc on a project that is all about spotlighting her spirit and soul. This is going to be a momentous occasion for fans everywhere."

Lopez's last Spanish language album, Como Ama Una Mujer, was released in 2007. In January, J.Lo kicked off her Las Vegas residency at The Axis inside the Planet Hollywood Hotel & Casino.

In August, Lopez performed with Anthony at Radio City Music Hall in New York City, not long after she broke up with choreographer Casper Smart. At the time, some fans wondered if the exes would reconnect romantically—apparently forgetting Anthony married Shannon de Lima in 2014.

Three years earlier, Anthony told Nightline he would "always" love Lopez. The feeling was mutual, as Lopez—the mother of two of his five children—told Access Hollywood just last month. "When we sing together, when they see us together, knowing our history, it brings a certain nostalgia," she said. "They know we care about each other and still love each other. We have two kids together and they love to see that things are good between us."