Katy Perry & Orlando Bloom Respectfully & Lovingly No Longer Banging

3/1/2017 6:25 AM PST

Katy Perry & Orlando Bloom Break Up For Now

Orlando Bloom and Katy Perry are officially on a break from each other ... but a very tender one.

The couple were together Sunday night at the Vanity Fair Oscars party, but Tuesday night their reps said, “Before rumors or falsifications get out of hand, we can confirm that Orlando and Katy are taking respectful, loving space at this time.”

The statement to US Weekly was reminiscent of Chris and Gwyneth's "conscious uncoupling," but bottom line is ... you're probably gonna see them out with other people very soon. In fact the "rumors" line might have been a reference to shots of Orlando chatting up a woman last week at a pre-Oscars event. To be fair, looks like friendly conversation.

Katy and Orlando were together just over a year.