Hilary Duff and Joel Madden's TRL Encounter

By Emily Fromm and Bethany Lye

Tuesday March 27, 2007 03:05 PM EDT

Hilary Duff

IMPictures/FilmMagic

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Since they split in November, Hilary Duff and Joel Madden hadn't run into each other – until now.

"I just did TRL today and Joel was there, and it was the first time we'd seen each other and it was so, like, nerve-racking," Duff, 19, told PEOPLE Monday at the 18th annual GLAAD Media Awards in New York City. "I knew that he was going to be there and he knew. It is what it is."

But Duff, who dated Madden, 28, for nearly two and a half years, was realistic about the situation. "I mean, what am I going to do?" she said. "It's life."

Since their breakup, Madden has been dating Nicole Richie, 25, and Duff has been single (something she's called "kind of exciting"). Still, Duff told Ryan Seacrest in January that she and her ex keep in touch and have "a great relationship."

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So was their run-in awkward? "It was a little strange at first, but I wish nothing but good for him and I know that he wishes the same for me," Duff told PEOPLE. "I'm happy and he's happy and I think that's all that counts."