Already!? Could it really be true? Tom Cruise and Katie Holmes have already settled their divorce.

Holmes’ lawyer released a statement saying, “The case has been settled and the agreement has been signed. We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life."

Reps from Team Tom advised, “We are very pleased to confirm that the divorce action between Tom Cruise and Katie Holmes has been amicably settled. The terms of the settlement are confidential. The parties have issued a joint statement regarding this resolution. We will have no further comment."

Cruise and Holmes released a joint statement, “We are committed to working together as parents to accomplishing what is in our daughter Suri's best interests. We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents."

There is a lot of speculation regarding the custody terms. Whispers of Holmes being very firm on Suri having absolutely nothing to do with Scientology.