Although Madonna and Guy both denied their marriage was over, the couple just couldn’t hold out any longer. Today - approximately three months after the splitsville rumors began - the Ritchies announced they are calling it quits.

A joint statement released by their reps confirmed the ongoing divorce rumors:

“Madonna and Guy Ritchie have agreed to divorce after seven-and-a-half years of marriage. They have both requested that the media maintain respect for their family at this difficult time.”

This news comes at a busy period in both stars’ lives. In addition to performing on her Sticky & Sweet tour (she is singing in Boston tonight), Madonna, 50, has recently been out promoting her directorial debut. (Not so coincidentally, her husband was absent at Monday’s premiere of Filth and Wisdom in New York.) Meanwhile, Ritchie has been planted in England for the production of Sherlock Holmes.

Even though both parties are reportedly eager to settle the divorce details quickly, there is still a large financial matter to figure out. Surprisingly, the couple’s December 2000 wedding took place without a prenuptial agreement in place. Because of this, Guy, 40, could potentiallly pocket around $100 million of his wife’s $500 million fortune.