Credit: Stephen Lovekin/Getty Images Photo: Marc Anthony and Jennifer Lopez Attend the MET Ball on May 2, 2011

Get ready to gasp. After seven years of marriage, Jennifer Lopez and Marc Anthony are calling it quits!

In a joint statement to People, the couple says, "We have decided to end our marriage. This was a very difficult decision. We have come to an amicable conclusion on all matters. It is a painful time for all involved, and we appreciate the respect of our privacy at this time."

Jennifer and Marc were friends for several years before tying the knot in a secret ceremony back in early 2004. The two went on to have adorable twins Max and Emme. Last year, they even renewed their vows in a romantic ceremony at their California estate. The couple seemed tight during their American Idol run, with Jennifer serving as judge and Marc mentoring contestants backstage. But Marc was noticeably absent last Saturday at the BAFTA Brits to Watch event, and Jennifer opted to bring her mom, Guadalupe, as her date instead.

Sadly, both singers have had their fair share of failed marriages. Jennifer has been wed twice before: to restauranteur Ojani Noa in 1997 and her former backup dancer Cris Judd in 2001. Marc was previously married to former Miss Universe Dayanara Torres and infamously wed Jennifer less than a week after their divorce was finalized.

We wish these two the best of luck and hope things don't get too awkward on the set of their new reality show.

Source: People, US Weekly