Simon Cowell's Pregnant Mistress Lauren Silverman Reaches Divorce Settlement With Ex-Husband

UPDATE 1.28 p.m. PT --  Andrew Silverman tells Radar: “As I’ve said all along, my priority was resolving this quickly for the sake of our son.  Lauren and I both love him very much and I’m looking forward to starting a new chapter in our lives. (Hopefully people will respect our family's privacy.)”

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Simon Cowell is probably breathing a big sigh of relief in St. Tropez -- because as RadarOnline.com has confirmed -- his pregnant baby mama has reached an out-of-court divorce settlement with the man she cheated on, husband Andrew Silverman.

"Yes, Lauren and Andrew's divorce is finalized," a family source confirmed to RadarOnline.com.

The agreement struck ensures that the pair will share joint custody of the couple's seven-year-old son and an amount of the pre-nup which is believed to be half of the agreed $4 million.

Andrew, a 37-year-old New York real estate developer, had named the former American Idol ace a co-respondent in divorce papers he filed in Manhattan Supreme Court, citing the adultery as the reason for the split.

The settlement will now avoid a messy court battle, the insider said.

Though Cowell has no plans of marrying Lauren, his attractive brunette mistress,  a source previously revealed to Radar, "there is simply no question that Simon will take responsibility for the child and make sure the baby is taken care of."