"This is not the future we envisioned," the former couple shared in a statement. "And it is with heavy hearts that we move forward separately. We are real people, with real lives, with real families, friends and colleagues. Therefore, we kindly ask for privacy and compassion concerning this very personal matter."
It is rumored that Blake filed the divorce papers a while ago, and a judge is expected to grant the divorce today.
The couple, who had a pre-nup, are currently working out financial arrangements.
Close sources told TMZ that Blake will keep the ranch in Oklahoma, while Miranda will get the family home in Nashville. Miranda has been moving her show animals out of the ranch over the past few days.
According to Forbes, Blake and Miranda earned $57 million last year as a couple.