Just In: Tom Cruise & Katie Holmes Settle Split

Tom Cruise and Katie Holmes have settled their split, explaining the news in a just-released statement to ET.

"The case has been settled and the agreement has been signed," says a statement from Katie's lawyer, Jonathan Wolfe. "We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life. This result could not have been achieved without the hard work of my partner Gary Skoloff and our co-counsel Allan Mayefsky, Michael Mosberg and Larry Trachtenberg of Aronson Mayefsky and Sloan and Peter Walzer and Chris Melcher of Walzer & Melcher in California. We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."

Tom's lawyer, Dennis Wasser, tells ET, "The case is settled. It is done!"

Related: Tom Cruise and Katie Holmes Divorcing

Earlier today, the couple released a joint statement regarding their daughter Suri: "We are committed to working together as parents to accomplish what is in our daughter Suri's best interests. We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents."

PICS: Katie and Suri's Weekend Without Tom

Sources tell ET that Tom is only days from a reunion with Suri, 6. Sources also tell us that Suri will most likely remain with her mother in New York for the near future while Tom continues to work on back-to-back movies around the world, from the currently filming Oblivion to Jack Reacher, which hits theaters December 21, and the upcoming All You Need Is Kill.

Jonathan Wolfe warns, "There are numerous inaccuracies in the reports regarding the purported contents of the agreement reached between the parties. The agreement is confidential and its terms will not be disclosed."

More: Where Did Tom Cruise Spend His Birthday?

ET has also learned that Tom had planned to spend the Fourth of July holiday in New York with his family at their new apartment.

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