Ryan Phillippe 'Very Happy' For Reese Witherspoon and New FianceWhile many people would be hurt by their ex moving on, Ryan Phillippe is taking the news of ex-wife Reese Witherspoon's engagement in stride.

Witherspoon, who has two children with Phillippe, recently announced her engagement to her boyfriend of almost one year, CAA agent Jim Toth. Toth popped the question with a classic 4-carat Ashoka sparkler while the couple were vacationing together in Ojai, California.

In response to the couple's happy news, Phillippe released a statement to the New York Daily News, saying,

"I'm very happy for both Reese and Jim. I wish nothing but the best for the mother of my children."