“There have been problems for a while, so this was inevitable,” the source tells PEOPLE about the cause of the split. “There’s still a lot of love there and no one makes Stephanie laugh more than Bobby, so this was hard for both of them. They’ve been living apart for several weeks.”
The duo wed in New York City in February 2005 after dating for four years, getting together after Flay landed a hard-to-get dinner reservation.
Two months ago, March posted an Instagram shot of the duo, which seemed to show them enjoying a day out together in chilly N.Y.C.
The couple have no children together.