Say it ain't so!

As fans continue to mourn the separation of Brad Pitt and Angelina Jolie, E! News learns that another longtime Hollywood couple has decided to call it quits. Liev Schreiber and Naomi Watts announced earlier today that they've decided to split after 11 years together.

"Over the past few months we've come to the conclusion that the best way forward for us as a family is to separate as a couple. It is with great love, respect, and friendship in our hearts that we look forward to raising our children together and exploring this new phase of our relationship," the couple tells E! News in a joint statement. "While we appreciate your curiosity and support, we ask the press to be mindful of our children and respect their right to privacy."

The couple, who never married, have two children together, Alexander "Sasha", 9, and Samuel, 7.

Schreiber and Watts have recently been seen making the film festival rounds together to promote their upcoming film The Bleeder. The duo were spotted looking happy and in love at both the Venice Film Festival and Toronto International Film Festival at the beginning of the month.

Watts was, however, noticeably missing by Liev's side at the Emmy Awards last weekend. The Ray Donovan actor instead took their son Sasha, and showed his preparations for getting red carpet ready on Instagram. After enjoying some pool time with his son, the actor got dressed up in his suit and bow-tie with his boy by his side.

"Sasha and me getting ready for the Emmy's @showtime," Liev shared on social media. "Thank you so much #CervandoMaldonado and #Fabiola!"

Watts reposted the photo, writing, "Dapper duo here... #twinning #crushingit #goodluck #raydonovan @lievschreiber #proudbeyondwords."

Entertainment Tonight was first to report the story.

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