"I support Jesse in his move to Austin," the Oscar winner, 46, tells PEOPLE exclusively in this week's cover story. "We have both moved on with our lives and only want the best for each other. Anything else that is said on my behalf is inaccurate."
For Bullock, moving on includes finalizing her adoption of 8-month-old son Louis on Aug. 13 surrounded by friends and her sister Gesine in a New Orleans courtroom. "She is so in love with her child," says a source.
As for motorcycle CEO James, 41 – who recently stepped out in Las Vegas with LA Ink star Kat Von D. – he too is starting to move on in the wake of the cheating scandal that led to his June divorce from Bullock, according to a James source.
"I think he's starting to grasp reality a bit more," says the source, "and the realization that it's going to take a lot longer and a lot more than he thought to bring things back to what they were."
For much more on this story, pick up this week’s issue of PEOPLE, on newsstands Friday