Billy Joel announced today that he has split with third wife, Katie Lee Joel, after nearly five years of marriage. For months, rumors have swirled that Joel’s third marriage to Katie Lee was on the rocks and just earlier today I reported that he had contacted a divorce attorney.

A rep for the legendary “Piano Man” confirmed that the singer and his wife are breaking up saying, “After nearly five years of marriage, Billy and Katie have decided to separate. This decision is the result of much thought and consideration. Billy and Katie remain caring friends, with admiration and respect for each other.” Lee, a 27-year-old chef, has become chummy with handsome 36-year-old fashion designer Yigal Azrouel, which had on-lookers questioning if their relationship was more than just friends since Azrouel  frequently escorts Katie to events. “Their decision to separate was absolutely unrelated to Yigal,” Joel’s spokeswoman, Claire Mercuri said.

So what finally caused the split after months of speculation? “It was really the age difference that caught up with them,” said a friend of the couple. “They grew apart. She is very career-oriented. She loves going out. She loves the city. When Billy isn’t touring, he’d rather be on Long Island with his motorcycles and boats.” Recently, Joel has been living alone on Long Island, where he owns mansions in Sag Harbor and Sagaponack, while Lee is said to be staying at the couple’s Manhattan townhouse.

Katie with Yigal Azrouel

The couple met in 2003 and was married in October 2004 at his Long Island estate. Joel was married to his first wife, business manager Elizabeth Weber, from 1973 to 1982 and then famously married his “Uptown Girl” Christie Brinkley in 1985, but the couple split up nine years later. Joel has a 25-year-old daughter with Brinkley, Alexa, who served as Lee’s Maid-of-Honor when she wed Joel.