A source close to the couple tells PEOPLE that Beckinsale and Wiseman have been separated for several months.
"They are still friendly and spend time together in L.A. when Kate is there," says the source, adding that "there has been no drama."
"It's just not Kate's style," says the source. "They have both had complicated schedules and have grown apart."
Reps for either party have not yet responded to PEOPLE's request for comment.
Wiseman, 42, was spotted heading into the Hollywood hotspot The Nice Guy on Tuesday night with 24-year-old CJ Franco – and the Live Free or Die Hard director was noticeably not wearing his wedding ring.
This isn't the first time the pair have hit the town together – it marks the third time the two have been spotted together since Oct. 2.
A second source tells PEOPLE that Wiseman and the model "have a genuine connection based on a friendship."
But as Wiseman continues to step out with the model, the source close to the couple says that a new relationship is not on Beckinsale's mind.
"Kate is not dating and only focused on her daughter and work."
Both Beckinsale and Wiseman have been seen without their wedding bands in recent months, sparking rumors that they might be headed for a split prior to Wiseman's outings, but neither ever addressed any breakup rumors.
Beckinsale, 42, and Wiseman met in 2003 while working on the first Underworld film together, which Wiseman directed. The two later tied the knot in 2004. They do not have any children together. Beckinsale has a 16-year-old daughter, Lily, with former partner Michael Sheen.
"[Wiseman's] primary concern in all of this is Lily. He loves his stepdaughter and is there for her," says the second source.