It’s one of those amicable breakups, with the band wishing Page good luck “in all his endeavors.”

The complete message from the band’s Web site reads:

“By mutual agreement, Steven Page will be parting company with the remaining members of Barenaked Ladies. Jim Creeggan, Kevin Hearn, Ed Robertson, and Tyler Stewart will continue recording and touring together as Barenaked Ladies. Steven Page will pursue solo projects including theatrical opportunities while the band enters the studio in April 2009, and hits the road in the fall.

“Page says ‘These guys are my brothers. We’ve grown up together over the past twenty years. I love them and wish them all the best in the future.’

“The band also wish Steven well in all of his endeavors. Ed Robertson says: ‘It’s the start of a new chapter for all of us. Here’s to the future!’

“Everyone is looking forward to making new music and thanks their fans for their support.”

For those of you with short-term memory problems, Page, his girlfriend and her roommates were arrested for drug possession in New York State in July when police found cocaine in an apartment.

The arrest was especially troublesome for the band, which had released a children’s album just weeks before the bust. However, charges were dropped in October after the three secured a deal calling for them to stay out of trouble for six months.