Chris Martin and Gwyneth Paltrow
Chris Martin and Gwyneth PaltrowREUTERS

Gwyneth Paltrow and her husband of 11 years, Coldplay singer Chris Martin, have called it quits.

The couple announced their decision through a statement on Paltrow's lifestyle website Goop, where they revealed that they had been trying to work out the problems in their marriage for over a year now.

In a post titled "Conscious Uncoupling", the pair wrote:

"It is with hearts full of sadness that we have decided to separate. We have been working hard for well over a year, some of it together, some of it separated, to see what might have been possible between us, and we have come to the conclusion that while we love each other very much we will remain separate.

"We are, however, and always will be a family, and in many ways we are closer than we have ever been. We are parents first and foremost, to two incredibly wonderful children and we ask for their and our space and privacy to be respected at this difficult time."

The statement is accompanied by a photograph of the couple lazing around on the grass and an article on how to deal with separation.

Paltrow and Martin got married in 2003 and have two children together -- Apple, 9, and Moses, 7.

Although the exact reason for their separation is yet unknown, Paltrow had hinted about trouble in paradise when she told Glamour U.K. that it's hard being married. The "Iron Man" actress said in the interview that the secret to a long and happy marriage is persistence.

"When two people throw in the towel at the same time, then you break up, but if one person's saying, 'Come on, we can do this,' you carry on," Paltrow said, according to reports.

Paltrow's alleged affairs with several high-profile men such as billionaire Jeff Soffer and Hollywood lawyer Kevin Yorn have also been linked to the couple's decision to go their separate ways. Reportedly, Vanity Fair was planning an "epic takedown" of the actress, and many believed it contained information about her various affairs. But the article never saw the light of day.

Reports have it that Paltrow was so threatened by an expose that she ordered her Hollywood friends to not cooperate with the magazine.

Meanwhile, Martin is said to be devastated after splitting from his wife. A source close to the singer told HollywoodLife that his priority now is their children.

"Chris is devastated," the source said. "He suggested counseling, he even suggested they move back to London but ultimately that just didn't work out for them."

"Now they'll have to figure out custody because he loves those kids more than anything. He's very hurt."

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