"John and Elaine Mellencamp are proud of their 20 years together and are very happy with their accomplishments both as parents and as a family," the statement reads. "They will continue to raise their two children in Indiana but have decided to call it a day as a couple."
The pair, who share two sons together, Hud and Speck, made the announcement late Thursday night, December 30, hours before the 2011 calendar is in full bloom.
Mellencamp met Elaine, a veteran model, when she was hired to pose for the cover of his 1991 album, 'Whenever We Wanted.' A year later, they married in a ceremony on Sept. 5, 1992.
Besides the statement, no other details surrounding the reason for the couple's split are known.