Billy Joel's third marriage is over.
A statement released by their representatives reads,
"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".
Katie Lee was 23 years old when they married, only 4 years older than Joel's daughter with Christie Brinkley. She has reportedly been involved in an affair with designer Yigal Azrouel.