Naomi Watts and Liev Schrieber Split: Inside Their 11 Year Romance and its Sad Final Chapter

The pair have split up after 11 years as one of Hollywood's most enduring couples.

The former duo, who have two children together, Alexander (Sasha) Pete Schreiber, 8, and Samuel Kai Schreiber, 7, announced their breakup in a joint statement to PEOPLE on Monday.

"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," read the statement.

A source on the set of Schreiber's Showtime series Ray Donovan tells PEOPLE, "They have been on the rocks for quite a while."

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