Liev Schreiber and Naomi Watts are separating after 11 years and two kids together

Liev Schreiber and Naomi Watts, who’ve been an item for 11 years, are calling it quits.

“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,” the actors said Monday afternoon in a joint statement first obtained by ET.

The “Ray Donovan” star, 48, and the “Demolition” actress, 47, who never married, have two sons together: 8-year-old Alexander Pete Schreiber, nicknamed Sasha, and 7-year-old Samuel Kai Schreiber.

The former couple said in their statement that they were looking forward to co-parenting their boys and “exploring this new phase of our relationship.”

Watts and Schreiber first crossed paths at the 2005 Met Gala, she told More in 2011 (via People). They exchanged numbers and talked on the phone and emailed for a few weeks.

“Then I made up some excuse to come to New York,” she said, “and the rest is history.”

“The Bleeder” costars have most recently been seen on red carpets together for the movie, which world premiered on Sept. 2 at the 73rd Venice Film Festival and had its North American premiere Sept. 10 at the 41st Toronto International Film Festival.

Follow Christie D’Zurilla on Twitter @theCDZ.

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