According to People.com, the couple are undergoing a trial separation they both agreed upon.
Cox and Arquette released this statement: "The reason for this separation is to better understand ourselves and the qualities we need in a partner and for our marriage. We remain best friends and responsible parents to our daughter and we still love each other deeply. As we go though (sic) this process we are determined to use kindness and understanding to get through this together."
They add: "We are comfortable with the boundaries that we have established for each other during this separation and we hope that our friends, family, fans and the media also show us respect, dignity, understanding and love at this time as well."
Ironically, they met on the set of the first "Scream" film in the mid-1990s.
The couple have one child together, 6-year-old Coco.