Drawing an end to their marriage, Billy Joel and wife Katie Lee have decided to file for divorce.

"After nearly five years of marriage Billy Joel & Katie Lee Joel have decided to separate. This decision is a result of much thoughtful consideration. Billy & Katie remain caring friends with admiration and respect for each other," a joint statement reads.

While the NY Daily News reported that Katie Lee was recently spotted getting close to fashion designer Yigal Azrouel, a source close to the couple says that the breakup had nothing to do with cheating.

"Everything is very amicable and it was just a growing apart," the insider tells.

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