Photo Credit: Kevin Mazur / WireImage / Neil Lane

Pop star Britney Spears and fiancé Jason Trawick have called it quits.  Spears began dating Trawick, her former agent, in May 2010.  Spears, 31, and Trawick, 41, got engaged in December of 2011 when Trawick proposed with a pave engagement ring.

“Jason and I have decided to call off our engagement,” Spears explained in a statement. “I’ll always adore him and we will remain great friends.”

Trawick added in a separate statement: “As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever.”

Spears has been married twice before–once to Kevin Federline, with whom she has 2 sons and once to Jason Alexander.

The split was announced on the same day that Spears confirmed that she will no longer be on ‘The X Factor.’