AceShowbiz -

Rock act Panic At the Disco have lost two of their members, guitarist Ryan Ross and bassist Jon Walker. Through a formal announcement on the band's official site, Ryan and Jon said they are leaving the band in order to "embark on a musical excursion of their own".

"Though the four of us have made music together in the past, we've creatively evolved in different directions which has compromised what each of us want to personally achieve," the statement is read. "Over the years, we have remained close and honest with each other, which helped us to realize that our goals were different and that parting ways is truly what is best for each of us. We are all excited for the future, you should be too."

The remaining members, lead vocal Brendon Urie and drummer Spencer Smith, will continue under Panic At the Disco. They have also released a statement regarding the split, writing "It's been an amazing journey being in a band with them, but sometimes individual tastes take friends in different directions and you can't ignore it. They are some of the most talented guys we know, and we're sure that whatever they do next will be great."

Brendon and Spencer said further that they will commence the work of the third album and still embark on a tour with Blink-182 and No Doubt as scheduled. "We know everybody has a lot of questions at this point with everything being so out of the blue, most of those should be answered in the coming weeks. We appreciate every one of you, and hope you continue with us on this incredible ride," they ended the post. The tour is to begin on August 8 in San Diego.