Their rep Mara Buxbaum confirmed the news, but did not give any additional details. The couple has been married for 11 years and have two children: daughter Dylan Frances, 16, and Hopper Jack, 14.

Penn was previously married to the pop singer Madonna, who is currently married to filmmaker Guy Ritchie. Wright Penn was previously married to actor Dane Witherspoon.

Penn received an Oscar for his lead role in "Mystic River." He’s also been nominated for roles in "I Am Sam," "Sweet and Lowdown" and "Dead Man Walking." His latest directorial effort, "Into the Wild," is getting lots of critical attention and received nominations from SAG and Golden Globes.

Wright is best known on the big screen for playing Buttercup opposite Cary Elwes in "The Princess Bride." Her other films include "Forrest Gump," "Moll Flanders," "Message in a Bottle," "White Oleander," "Breaking and Entering" and the CG-animated "Beowulf." On TV, she’s received daytime Emmy nominations for playing Kelly Capwell on "Santa Barbara."

The couple has co-starred in a few films together, including "Hurlyburly" and "She’s So Lovely."