"LOVE is a beautiful thing. While we both will always have love for one another,
we have decided to go our separate ways," they shared in an exclusive joint statement.
No one is to blame, and we are grateful that we remain good friends.
We will always cherish the many memories we've shared together as husband and wife.
Many of you have been on this journey with us from the very beginning,
and we appreciate our family
friends and beloved fans for your positive support as we move forward and start new chapters.
Thank you for your prayers and well wishes!"
Meanwhile, a source tells ET of Bailey's split from her husband,
Cynthia and Mike have been having issues for a while and tried
working on things but weren’t able to come to a resolution.