Gustavo Caballero/Getty
Amber Ray
May 03, 2014 AT 05:13 PM EDT

Victoria’s Secret model Adriana Lima and former NBA star Marko Jaric are ending their marriage, People reports.

“After long and careful consideration, we have decided to separate after five years of marriage,” they said in a joint statement. “We are grateful to be the parents of two incredible young daughters that we will continue to co-parent. We would greatly appreciate your respect for our family’s privacy as we begin this delicate next chapter for all members of our family.”

Lima, 32, and Jaric, 35, met in 2006 and got engaged two years later. They eloped in 2009, marrying on Valentine’s Day in Jackson Hole, Wyoming.

The couple has two children: Valentina, 4, and Sienna, 1.

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