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The couple have two children together, a three-year-old son, Junior, and a daughter aged one, called Princess Tiaamii.
Price also has a severely disabled six-year-old son, Harvey, by former Manchester United footballer Dwight Yorke.
A statement from the couple's management company said: "Peter Andre and Katie Price are separating after four-and-a-half years of marriage.
"They have both requested that the media respect their families' privacy at this difficult time."
Jordan, who has undergone a series of operations to first enlarge and then reduce her breasts, has amassed a fortune of 30 million pounds (33 million euros, 45 million dollars), according to this year's Sunday Times Rich List.
She admits she does not write her novels herself, but dictates the material to a ghost writer. Several of the books have topped bestseller lists in Britain.
Price is also an accomplished showjumper and has a range of equestrian clothing bearing her name.
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Price also has a severely disabled six-year-old son, Harvey, by former Manchester United footballer Dwight Yorke.
A statement from the couple's management company said: "Peter Andre and Katie Price are separating after four-and-a-half years of marriage.
"They have both requested that the media respect their families' privacy at this difficult time."
Jordan, who has undergone a series of operations to first enlarge and then reduce her breasts, has amassed a fortune of 30 million pounds (33 million euros, 45 million dollars), according to this year's Sunday Times Rich List.
She admits she does not write her novels herself, but dictates the material to a ghost writer. Several of the books have topped bestseller lists in Britain.
Price is also an accomplished showjumper and has a range of equestrian clothing bearing her name.
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