The rumors hinted that by not signing the divorce papers yet, he could be keeping Carey from tying the knot with her billionaire fiancé, James Packer.
"I wish it was that easy where you can just sign something and say, 'Oh, I'm done,' but it's a lot of things that go with that that are beyond my control," Cannon explains. "The only thing that's important to me is my children. I want what's best for them. I believe my ex feels the exact same way."
ET caught up with Cannon at New York Fashion Week during a fitting for Monday's Perry Ellis presentation.
The estranged couple filed for divorce more than two years ago, but the split has yet to be finalized.
"Again, you got to respect the process," Cannon says. "Luckily, that's all behind us now and everyone can move on and be happy. That's where we are."
Last month, Cannon aired out some of his grievances in a rap song titled "Divorce Papers."
"This my real life/I almost died twice myself/ but f**k my health/ y'all felt I kept this sh*t /held up for some motherf**king alimony?" he raps. "Now who phony/when y'all need help, y'all call me/ when I need help, y'all call TMZ/ and y'all believe everything y'all see."
"That was more of a venting process of what this last two and half to three years has been going on in my mind," Cannon tells ET. "I've never really been able to be personally on that level. I wasn't upset with anyone. If I was upset with anyone, I was
upset with the process."
Cannon seems to be putting those frustrations behind him, turning his focus to activism. Last week, he joined hundreds of protestors in New York and Chicago, calling for an end to police brutality.