Ryan Phillippe Wishes Reese Witherspoon "Nothing But the Best" On Engagement to Jim Toth

As Reese Witherspoon prepares for her second trip down the aisle with new fiancé Jim Toth, her ex-husband Ryan Phillippe gives his blessing.

"I'm very happy for both Reese and Jim," Ryan said in a statement to the New York Daily News, via the Huffington Post. "I wish nothing but the best for the mother of my children."

Earlier this year, Ryan opened up to talk show host Ellen DeGeneres about co-parenting with Reese as they raise their two children — Ava, 11 and Deacon, 7.

OK! NEWS: IS RYAN PHILLIPPE READY FOR JIM TOTH TO BE STEP DAD TO HIS KIDS?

"Things are great," he told Ellen. "It is so important as divorced parents to keep that connection. It makes the kids feel better that the parents are interacting. ... We go to all the school events together, and we're there for each other.

Reese and Jim announced their engagement Tuesday and are "extremely happy," a rep for the Oscar-winning actress told OK! in a statement.

Reese and Ryan divorced in 2006, and both actors have had long term relationships since their split — Reese with Jake Gyllenhaal and Ryan with Abbie Cornish.

Reese's engagement to Jim marks the first time either of the actors will take a second trek down the aisle.

As far as Ryan’s latest dating status, he has been spotted out and about with young actress Amanda Seyfried.

After being spotted out together at Kate Hudson’s Halloween party, the duo’s “friendship” has been heating up, and they were even spotted on a “flirty” lunch date a week ago in L.A.