The film was originally supposed to premiere on Jan. 14.
The film will reportedly be released domestically on Hulu, while Amazon will stream the film overseas, Deadline reports. No new premiere date has yet been announced.
The erotic thriller starring the former couple -- who met and sparked a short-lived whirlwind romance while filming -- was originally set to hit theaters on Jan. 14. However, ET learned last Thursday that the film had been removed from the Walt Disney Studios Motion Pictures theatrical schedule.
The film, based on a 1957 novel by Patricia Highsmith of the same name, tells the story of Vic (Affleck) and Melinda (de Armas), a couple living in a small town trapped in an unhappy marriage.
Instead of dealing with the social fallout from divorce, they make an agreement that Melinda can have relationships with other men, as long as she doesn't leave her family. Soon, however, Vic becomes a suspect in the mysterious disappearances of some of Melinda's lovers.
Deep Water -- which also stars Lil Rel Howery, Rachel Blanchard, Tracy Letts, Finn Wittrock and Jacob Elordi -- is directed by Adrian Lyne and marks the acclaimed filmmaker's first directorial effort since 2002's Unfaithful.
Lyne is responsible for directing some of the most famous and semi-controversial erotic thrillers of the last four decades, including Flashdance, 9 1/2 Weeks, Fatal Attraction and Indecent Proposal, as well as the psychological horror classic Jacob's Ladder.