Gwyneth Paltrow and Chris Martin have reportedly decided to "bite the bullet" and divorce.

The Oscar winner and the Coldplay frontman shared the news of the 'conscious uncoupling' in March last year after ten years of marriage. The pair have remained on extremely civil terms ever since and recently holidayed with their two children in Mexico where they reportedly decided to officially divorce.

"They decided to finally bite the bullet, with the support of their conscious uncoupling guru," a source told British magazine Grazia. "They both felt the time had come to move forward with their new relationships."

While Chris, 38, has been rumoured to be dating the Hunger Games actress Jennifer Lawrence, 24, for some time, Gwyneth was recently pictured for the first time with Glee co-creator Brad Falchuk who she has been linked to since last year. The pair were attending Gwyneth's Iron Man co-star Robert Downey Jr's 50th birthday party.

But despite their respective new romances, Chris and the 42-year-old are committed to spending time together as a family with their children Apple, ten and Moses, eight.

"They've decided to draw up a ‘family schedule’, which they will both have to adhere to once the divorce is finalized," the source continued. "It will include at least three family holidays a year, designated joint days out with the kids and even 'date nights' to discuss the children and remain on good terms. Both Jennifer and Brad are expected to be in attendance at Apple's 11th birthday next month."

It's believed that the news of divorce will come as a great relief for Academy Award winner Jennifer.

"[They] have been struggling to move forward with their relationship because she couldn't handle always coming second to Gwyneth," the insider added. "She put a huge amount of pressure on Chris to make a statement to show his commitment to her, which he wasn't prepared to do until now."

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