updated 01/26/2012 AT 12:00 PM ET
•originally published 01/26/2012 AT 1:45 PM ET
It’s over for Drew Carey and his longtime fiancée.
The Price Is Right host and Nicole Jaracz have ended their nearly five-year relationship. “He and Nicole still have a great deal of love and affection for one another,” Carey’s rep tells PEOPLE in a statement. “He will still be very involved with their son’s life.”
Carey, 53, and Jaracz announced their engagement in Oct. 2007. At the time, Jaracz had recently graduated from culinary school.
“They are both very happy and excited about their future together,” Carey’s rep said at the time, adding that no wedding date had been set.
Noting that he’d get winded while trying to keep up with the boy, Carey told Parade then, “That was a terrible feeling. I thought, I’m never going to see him graduate high school.”