Tom Cruise and Katie Holmes have reached one speedy divorce settlement, announcing today that an agreement has been signed.

While full details of the settlement have not been released, it is rumoured that Katie Holmes has won sole custody of their six year old daughter Suri.

Holmes’ attorney Jonathan Wolfe said in a statement, "the case has been settled and the agreement has been signed.” 

"We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life," the statement from Holmes' attorney said. "We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."

Tom Cruise’s representative Amanda Lundberg has also confirmed the settlement.

It has been speculated that Katie Holmes could possibly walk away with an estimated US$15 million from the divorce.

A source has told Radar Online, “ Katie insisted that Suri's nanny and bodyguards always accompany her when she visits Tom. Katie did this for several reasons. This will ensure a smooth and easy transition for Suri when she is with Tom.  Suri is Katie's number one priority. Tom only has Scientologists that work for him and Katie insisted that her staff will always be with their daughter.”

The source revealed what most people thought: sole custody will ensure Suri’s protection against Scientology. 

"Under terms of the settlement, Suri isn't permitted to be exposed to anything Scientology related and this includes going to any Scientology churches, parties, etc. Katie made sure that this was ironclad in the agreement."

The media have definitely swayed in Katie’s direction with ‘Free Katie!’ T-Shirts and pictures celebrating ‘Katie Holmes’ Independence Day’ (below).