Courteney Cox Split From David Arquette. Hello Jasmine Waltz?

Another Hollywood couple bites the dust…well, maybe. Courtney Cox and David Arquette announced their separation Monday after 11 years of marriage.

Gallery: Courteney Cox and David Arquette photos

“The reason for this separation is to better understand ourselves and the qualities we need in a partner and for our marriage. We remain best friends and responsible parents to our daughter and we still love each other deeply,” Cox and Arquette said in a joint statement. “As we go though this process we are determined to use kindness and understanding to get through this together. We are comfortable with the boundaries that we have established for each other during this separation and we hope that our friends, family, fans and the media also show us respect, dignity, understanding and love at this time as well.”

TMZ reports that sources close to the pair claim they’ve been separated for several months, but continue to work on the set of Scream 4 and raise their 6-year-old daughter Coco.

TMZ also reports that David Arquette called into the Howard Stern Show Tuesday morning, saying the he and Courteney haven’t had sex in four months. However, he admitted to having a sexual relationship with rumored rebound Jasmine Waltz. He reportedly told Stern he hopes he and Courteney will reconcile.