Katie Holmes, Tom Cruise Reach Divorce Settlement

Tom Cruise and Katie Holmes have reached a divorce settlement, according to PEOPLE magazine.

No details have been provided on the agreement, but sources tell PEOPLE the two were leaning toward a settlement in which six-year-old Suri would live in New York with Holmes, with Cruise getting “generous” visitation rights.

Earlier today, in a joint statement, Cruise and Holmes said: “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.”

The statement came via Cruise and Holmes’ reps, Amanda Lundberg and Nanci Ryder, respectively.

Thirty-three-year-old Holmes filed for divorce from Cruise, 50, in New York City on June 28, citing “irreconcilable difference.”

Cruise reportedly felt blindsided by the split. Just last week, his lawyer, Bert Fields, expressed his hopes for an amicable divorce.

“I would hope that it’s not a contentious matter,” he told the Los Angeles Times. “I know Tom is not a particularly contentious person.”