EXCLUSIVE: Liev Schreiber and Naomi Watts Separating After 11 Years Together

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Liev Schreiber and Naomi Watts have called it quits, ET can exclusively confirm.

"Over the past few months we've come to the conclusion that the best way forward for us as a family is to separate as a couple. It is with great love, respect, and friendship in our hearts that we look forward to raising our children together and exploring this new phase of our relationship," the couple told ET in a joint statement. "While we appreciate your curiosity and support, we ask the press to be mindful of our children and respect their right to privacy."

Though never married, the couple had been together since 2005.

WATCH: Super Proud Papa Liev Schreiber Brings Son Sasha to the Emmys

Their last red carpet appearance together was earlier this month, at the Toronto Film Festival premiere of The Bleeder, which both of them star in.

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Schreiber and Watts have two children together -- 9-year-old Alexander "Sasha" Pete and 7-year-old Samuel "Sammy" Kai.

This year, Schreiber brought Sasha with him to the 2016 Emmys.

Watts shared an adorable father-and-son photo before the show, writing, "Dapper duo here... #twinning ??#crushingit #goodluck #raydonovan @lievschreiber #proudbeyondwords ?."

It's one of many sweet moments the family has shared on social media, like this video Watts posted to Instagram in May of Schreiber and his son playing air guitar, writing, "Just a private moment, of full blown #airguitar Couldn't resist #likefatherlikeson #joy."

Earlier this month, Schreiber affectionately captioned a photo of Watts, "Ay dios mio..."

In March, Watts revealed during a sit-down interview with ET the challenges her and Schreiber's hectic work schedules present when it comes to making time for their children.

"There are days where you feel like you're supermom and doing really well and got it handled, and then there are days where you're like, 'Ah! I can't do this!'" she admitted. "It's like any working mom, I think. It's a balance."

Watch the video below for more on Schreiber's Emmy day with Sasha.

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