"Tom and Katie are in a really good place," a source tells E! News. "They have a good relationship. Soon after the split, obviously, they didn't. But they have managed to mend their relationship for the sake of Suri. Things are cordial right now."
The A-list actor is also ready for a new chapter in his love life.
"He's doing really well. He's really happy. He's ready to date," the source added.
"He wants to find love again. He's a really great guy and it's difficult for him to play the dating game, because even if he likes someone who isn't famous it's hard for them to understand his world."
The source explained that "the likelihood is that he will probably end up with another actress."
And while Cruise doesn't necessarily have a type, the source goes on to say that dating someone in the business is easier for logistics sake.
"[Actresses] understand his world better. He works all the time and loves his work, he's amazing passionate and invested in it. So he's never in one place for a long time."
Cruise first learned of Holmes' filing just days before his 50th birthday. The actor told Germany's Bunte magazine in April that he was blindsided by the abrupt end of his marriage.
"I did not expect that," the Hollywood star said.
But Cruise revealed the split gave him "an incredible amount of time to reflect" as he celebrated his milestone birthday.
Both sides' lawyers reached a settlement two weeks later that gave his former wife custody over their 6-year-old daughter— and Cruise gained generous visitation rights.
The famous couple originally married in November 2006 in a stunning Italian ceremony at the 15th-century Odescalchi Castle. Their 7-month old daughter Suri was the highlight of the wedding and joined guests Jennifer Lopez, Marc Anthony, Will Smith and Jada Pinkett Smith.
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