After three years of marriage and two children together, Drew Barrymore and Will Kopelman are officially calling it quits.

The couple, who are parents to daughters Olive, 3, and Frankie, 1, issued a statement on Saturday about their decision to divorce.

"Sadly our family is separating legally, although we do not feel this takes away from us being a family," they say in the statement, obtained by People. "Divorce might make one feel like a failure, but eventually you start to find grace in the idea that life goes on."

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drew barrymore and will kopelman

"Our children are our universe, and we look forward to living the rest of our lives with them as the first priority," the statement continues.

The pair married in June of 2012, but announced their split after rumors emerged about their marriage's demise on Friday.

“They’ve been having some difficulties, but they remain close for the sake of their kids,” a source told Page Six.

This was the first marriage for Will, and the third for Drew. She was previously married to bartender Jeremy Thomas in 1994, and filed for divorce less than two months later. She wed comedian Tom Green in July 2001, and they split in December of that year.