WORLD EXCLUSIVE: Tom Cruise & Katie Holmes — it’s over!

Life & Style has learned exclusively that Tom Cruise and Katie Holmes have agreed to call off their wedding — and, ultimately, to split.

Multiple insiders confirmed the story to Life & Style, with one longtime friend of Tom’s saying: “Their relationship is basically over.” Another friend adds: “They both agreed that the marriage wouldn’t work and they wanted to end it before they learned to hate each other.”

The insiders say that Tom, 43, and Katie, 27, plan to keep up the charade of a romance until after their baby’s birth this spring. In the meantime, the couple will live in his Beverly Hills home — though sleeping in separate bedrooms — through the summer. Then, presumably, they’ll announce a separation — but Tom plans to buy Katie a home nearby so he can visit his child whenever he wishes.

“They’ll share custody,” says the friend, who claims the couple are drawing up a legal document to provide for Katie’s and the baby’s financial well-being for life. “Tom will set up Katie and the baby,” adds the pal.

For more on Tom and Katie’s split and other celebrity relationship and style news, pick up the latest issue of Life & Style Weekly.

Posted 3:08 p.m., Feb. 14

http://lifeandstylemag.hollywood.com/

*Begins breathing again*

How long before Katie has to issue a restraining order?

the only thing surprising about this is that it lasted so long past the summer.

gv, you just made my wife run from the other room.

Will Katie still have to be silent while giving birth?

Katie should name the kid Nicole.

TomKat may still be strong and well:

Holmes, Cruise deny break-up

If this doesn't prove Tom Cruise is gay, I don't know what does.

"Two marriages? Check. Baby? Check. Now the suspicions have to stop!"

Duh!

Maybe the two of them finally find the notion of their romantic coupling as hilarious and implausible as the rest of the world does.

He's twice her age, half her height, gay, and in a cult.

Tom, just because you install a sparkly new door, doesn't hide the fact that you're still in the closet.

D'oh! I even read that. My memory is shit lately.

Good, I still have a shot with Katie then. I just hope he didn't give her teh HIV.

i still believe this is the real life version of rosemary's baby. I say if Katie cuts her hair we should all run for the fucking hills

Joey is mine, damn it!

Ah, you can have her. She's been Cruised.

I can accept that.

is it too late for her to get an abortion?

i'm probably the only person in the world other than tom cruise that likes tom cruise.