It's over for Jennifer Lopez and Marc Anthony. After 7 years of marriage the two have called it quits!

"We have decided to end our marriage," they tell PEOPLE Magazine in a joint statement. "This was a very difficult decision. We have come to an amicable conclusion on all matters." 

"It is a painful time for all involved," the statement continues, "and we appreciate the respect of our privacy at this time." 

Lopez, 41, and Anthony, 42, wed in June 2004 in a casual – and secret – ceremony at Lopez's Beverly Hills home and have 2 children (Max and Emmie)