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Tom Cruise, Katie Holmes Reach Divorce Settlement

WEST HOLLYWOOD, CA - FEBRUARY 26:  Actress Katie Holmes (L) and actor Tom Cruise arrives at the 2012 Vanity Fair Oscar Party hosted by Graydon Carter at Sunset Tower on February 26, 2012 in West Hollywood, California.  (Photo by Alberto E. Rodriguez/Getty Images)

It hasn't yet been two weeks since Katie Holmes filed for divorce from Tom Cruise, but today, her team announced that both parties have come to a settlement. "The case has been settled and the agreement has been signed," a rep for Holmes said in a statement. "We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life." Also: "We thank Tom’s counsel for their professionalism and diligence that helped bring about this speedy resolution." Still no word yet on how the couple agreed to handle custody of their daughter, Suri.

Photo: Alberto E. Rodriguez/2012 Getty Images