08/08/2011 at 09:30 AM EDT
It's once more around the block for the ladies of Wisteria Lane.
ABC announced Sunday that Desperate Housewives
will wrap its eight-year run in May, at the conclusion of its eighth season.
"This season of #DesperateHousewives will be the last. We will miss those ladies on Wisteria Lane but can't wait to see the final season!" the network tweeted
Show creator Marc Cherry and ABC president Paul Lee revealed the news during the Television Critics Association's summer press tour in Beverly Hills.
"I wanted to go out when the network still saw us as a viable show and a force to contend with," Cherry said. "We felt from a creative standpoint that this was the right time. I feel so good about it."
"It's an iconic show and we're extremely proud of it," Lee said. "I just wanted to make sure it had its victory lap."
Featuring an ensemble cast headlined by Teri Hatcher, Felicity Huffman, Marcia Cross and Eva Longoria
, the show was a smash hit when it premiered in October 2004. Ratings have declined in recent seasons, but the program has retained a loyal fan base.
Reporting by SUSAN YOUNG