Arnold Schwarzenegger and his wife of 25 years, Maria Shriver, announced Monday that they are separating.

"This has been a time of great personal and professional transition for each of us," the two said in a prepared statement. "After a great deal of thought, reflection, discussion, and prayer, we came to this decision together."

The statement, issued by a spokesman for the actor and former California governor, said Schwarzenegger and Shriver were working on the future of their relationship while living apart and that they would continue to parent their four children together.

Both said they will not have further comment. Schwarzenegger's spokesman, Daniel Ketchell, said he will not answer questions beyond what was said in the statement.

Schwarzenegger finished his 7-year run as governor in January and has been on the speech circuit and pursuing various entertainment projects. During his time as governor, Shriver and his children never moved to Sacramento, preferring their secluded canyon estate a few miles from the Pacific Ocean.

Shriver, a member of the Kennedy political dynasty, left her job as an NBC reporter when Schwarzenegger took office. As the state's first lady, she ran an annual women's conference that attracted a long list of business, political and entertainment luminaries, along with an audience of thousands.