It's splitsville for one of the best-looking couples in Hollywood, as singer-actor Justin Timberlake, 30, and his longtime girlfriend, actress Jessica Biel, 29, have ended their relationship. They began dating in 2007. According to PEOPLE, reps for the couple released a statement yesterday, confirming the news.

The statement read as follows: "Addressing the media speculation regarding Jessica Biel and Justin Timberlake's relationship, we are confirming that they mutually have decided to part ways. The two remain friends and continue to hold the highest level of love and respect for each other."

The pair made an appearance at the post-Oscars, Vanity Fair party on Feb. 27 and all appeared to be fine.

Perhaps the triple-threat Timberlake -- he sings, acts and has a flair for comedy, as his 'Saturday Night Live' appearances have illustrated -- will spend his newly single free time working on music! He has been focusing on his acting career, and hasn't released an album since 2006 but has promised that he is not retiring from music.