Friday, June 10, 2011 11:48am ET by  
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Jack White and Karen Elson to throw "divorce party"

Former White Stripes star, Jack White, has confirmed that he is divorcing his wife, Karen Elson. 

The pair, who were married back in 2005, issued a joint statement that explained how their decision feels like the right one, but they remain "dear and trusted friends":

"We remain dear and trusted friends and co-parents to our wonderful children Scarlett and Henry Lee."

“We feel so fortunate for the time we have shared and the time we will continue to spend both separately and together watching our children grow.”

Their relationship, both as friends and parents, will be celebrated with a "divorce party" in the near future:

"In honour of that time shared, we are throwing a divorce party. An evening together in Nashville to re-affirm our friendship and celebrate the past and future with close friends and family."

Watch White Stripes' video for 'Blue Orchid', in which Elson stars, here: