Two-time Academy Award-nominee Naomi Watts and “Ray Donovan” Emmy-nominee Liev Schreiber are breaking up after 11 years and two children.

“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,” Schreiber, 48, and Watts, who turns 48 on Wednesday, said in a statement to “Entertainment Tonight.”

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“It is with great love, respect, and friendship in our hearts that we look forward to raising our children together and exploring this new phase of our relationship. While we appreciate your curiosity and support, we ask the press to be mindful of our children and respect their right to privacy.”

The never-married couple have two sons, Alexander, called Sasha, 9, and Samuel, 7.