Miley Cyrus Is 'Relieved' She and Liam Hemsworth Reached Divorce Agreement: 'She Just Wants to Move On,' Says Source

While their settlement details have been ironed out, Miley Cyrus and Liam Hemsworth's divorce reportedly won't be finalized until March 2020

Liam Hemsworth and Miley Cyrus
Photo: Chelsea Lauren/WWD/Shutterstock

Miley Cyrus is happy to be moving forward amid her split from Liam Hemsworth.

The former couple recently settled the details of their divorce and her attorney was set to file court documents on Tuesday, TMZ and Entertainment Tonight reported.

“Miley is relieved that she and Liam reached an agreement when it comes to the divorce,” a Cyrus source tells PEOPLE. “She just wants to move on.”

News of the settlement came just over one year after Cyrus, 27, and Hemsworth, 29, tied the knot, and four months after The Hunger Games actor filed for divorce.

The insider also says that Cyrus’ relationship with Cody Simpson is currently going “great,” adding, “They had a wonderful Christmas Day with her family. They plan on celebrating New Year’s together, as well. They are also talking about an Australia trip next year. Miley seems very happy.”

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Miley Cyrus Instagram
Miley Cyrus Instagram
Liam Hemsworth
Liam Hemsworth. Liam Hemsworth/Instagram

Hemsworth filed for divorce from Cyrus in August after getting married seven months earlier, on Dec. 23, 2018. On Aug. 10, a rep for the “Wrecking Ball” singer confirmed to PEOPLE in a statement that the couple had split.

“Liam and Miley have agreed to separate at this time,” the statement read. “Ever-evolving, changing as partners and individuals, they have decided this is what’s best while they both focus on themselves and careers. They still remain dedicated parents to all of their animals they share while lovingly taking this time apart. Please respect their process and privacy.”

Although their property has been divided and Cyrus will reportedly retain custody of their animals, the divorce won’t be finalized until March 2020, TMZ and ET claimed on Tuesday.

Reps did not immediately return PEOPLE’s request for comment.

Liam Hemsworth and Miley Cyrus
Liam Hemsworth and Miley Cyrus. Rich Polk/Getty Images for Disney

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On Wednesday, Hemsworth shared a sunny snapshot of himself on Instagram, showing the star with a beer in hand, a cooler strapped around his shoulder and a towel tucked in his waistband, ready for a day of holiday celebrations.

“Locked and loaded. Bring on the festivities!” the Isn’t It Romantic actor captioned the photograph, in which he wore shorts and a cut-off T-shirt, topped off with a colorful hat and shades.

Meanwhile, Cyrus and singer Simpson, 22, spent their first Christmas as a couple with their family — during which Cyrus even twerked in the kitchen, shown in a video on Simpson’s Instagram Story that he captioned, “Just some wholesome Christmas content” before giving the moves a try himself.

Since his split from Cyrus, Hemsworth has sparked dating rumors with model Gabriella Brooks. Earlier this month, he was photographed introducing Brooks, 21, to his parents, Craig and Leonie Hemsworth, while in Byron Bay, Australia.

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