McConaughey and Cruz "Have Decided to Split"

Matthew McConaughey, Penelope Cruz

Matthew McConaughey and Penelope Cruz have decided to spend time apart, PEOPLE has learned exclusively.

Matthew McConaughey and Penelope Cruz split.

Explaining on what is going on between them, both Cruz and Matthew released a joint statement saying they "have decided to take time off as a couple. Due to busy work schedules and so much time apart, they mutually decided four weeks ago that separating was the best thing to do at this time."

"They're very good friends, but they haven't been able to be together," a source close to Cruz tells PEOPLE. "Who knows what the future holds." Hope you both all the very best then.


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