After facing a turbulent week, estranged couple Tom Cruise and Katie Holmes is now reportedly contemplating an out of court settlement. The duo has been under constant media glare since Katie had filed for divorce on June 28 in New York City and sought the sole custody of their six-year-old daughter Suri. According to TMZ.com, the Hollywood actors are negotiating on issues like Suris custody, visitation, child support and property. People magazine also claimed that the estranged couple wishes to avoid airing marital issues in court. Though, Holmes met her attorney yesterday, the attorneys of both stars did not return requests for comment on Sunday. It seems that both of them have agreed to a ceasefire while their lawyers work out a settlement. According to close sources, the pair is looking to settle the whole thing outside court, with no court hearing scheduled at all, unless that is, if the negotiations fall apart. Now it is also clear that the whole divorce will be settled in New York itself and not in California as Tom wanted. The duo is reportedly ready to put any tension and ill-feeling for one another aside as they look to settle what's best for little Suri and Tom may waive his right of joint custodian for the sake of what's best.