NBA star Marko Jaric arrives on the red carpet with supermodel Adriana Lima at the 2008 ESPY Awards in Los Angeles, California in this file photo taken July 16, 2008. Lima and Jaric are separating after five years of marriage, the couple said on Friday. [Photo/Agencies]

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Victoria's Secret model Adriana Lima and former NBA player Marko Jaric are separating after five years of marriage, the couple said on Friday.

Brazilian model Lima, 32, and Jaric, 35, said in a statement that they were separating "after long and careful consideration," and will continue to co-parent their two young daughters.

The couple were married on Feb 14, 2009, in Jackson Hole, Wyoming, after eloping, according to People Magazine.