Another Hollywood couple bites the dust: Gwyneth Paltrow and Chris Martin.

The Oscar-winning actress and the Coldplay frontman announced yesterday on Paltrow's website that they are separating after almost 11 years of marriage.

"It is with hearts full of sadness that we have decided to separate," they wrote on Goop.com in a post titled "Conscious Uncoupling."

"We have come to the conclusion that while we love each other very much we will remain separate. We are, however, and always will be a family, and in many ways we are closer than we have ever been," they added.

Paltrow, 41, and Martin, 37, have been plagued by split-up rumors in the past. They were married in 2003 and they are parents to children Apple, 9, and Moses, 7.

The couple added that they hope to keep the process private as they "consciously uncouple and coparent."