Billy Joel and Katie Lee Joel decided to split up

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Rock and Roll Hall of Famer Billy Joel and Katie Lee Joel have decided to end their five year relationship.

The couple's reps. issued a statement via People, "After nearly five years of marriage Billy Joel & Katie Lee Joel have decided to separate. This decision is a result of much thoughtful consideration. Billy & Katie remain caring friends with admiration and respect for each other."

Buzzing report that allegedly 36-year-old Israeli-born fashion designer Yigal Azrouel was involved in this break up.

Billy and Katie tied the knot in 2004 at Billy's 15-acre waterfront Center Island estate in Long Island, New York.

Posted in: Billy Joel, Celebrity BREAKUPS, Katie Lee Joel