The reality TV star, 41, and comedian, 28, broke up and decided they're better off as friends, a source close to the couple told E! News.
According to the source, Kardashian and Davidson have "a lot of love and respect for each other," but they found that the long distance and their demanding schedules "made it really difficult to maintain a relationship".
The split occurred sometime last week.
Davidson is currently in Cairns, Australia, working on the movie Wizards! with Orlando Bloom, while Kardashian is in LA - working and raising her four kids - North, Psalm, Chicago and Saint, with her ex, Kanye West.
"The divorce is moving ahead with Kanye," another source told the publication. "They are happily co-parenting."
As for Davidson and Kardashian, there was a bit of surprise surrounding the news of their breakup - but according to insiders, there had been plenty of signs along the way.
Watch: Kim Kardashian and Pete Davidson on SNL. Post continues below.
But first, here's a quick bit of background on their relationship.
Davidson and Kardashian were first romantically linked in October 2021.
They were seen out together at a Californian theme park, holding hands on a rollercoaster with Kourtney Kardashian and her then-fiancé Travis Barker.
At the time a source 'close to the family' said to PEOPLE: "They hang in the same circles so they will be together from time to time. It's just friends hanging out."
However, just a short time before, Kardashian and Davidson had performed together during her SNL hosting debut, sharing a kiss during one of her sketches.