"We will continue trying to expand our beautiful family," Britney Spears and Sam Asghari wrote in a joint statement on Saturday
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Britney Spears; Sam Asghari
Britney Spears and Sam Asghari
| Credit: Vivien Killilea/Getty Images

Britney Spears and Sam Asghari announced in a joint Instagram post on Saturday that they "have lost" their baby.

"It is with our deepest sadness we have to announce that we have lost our miracle baby early in the pregnancy," they wrote in the post. "This is a devastating time for any parent. Perhaps we should have waited to announce until we were further along, however we were overly excited to shared the good news."

"Our love for each other is our strength. We will continue trying to expand our beautiful family. We are grateful for all of your support. We kindly ask for privacy during this difficult moment," the couple concluded.

Earlier this week, the couple were photographed on vacation in Cancun riding jet skis together.

Spears first said she and Asghari were "having a baby" last month following their vacation to Hawaii.

"I lost so much weight to go on my Maui trip only to gain it back… I thought 'Geez… what happened to my stomach ???' My husband said 'No you're food pregnant silly!!!' So I got a pregnancy test... and uhhhhh well… I am having a baby…" she wrote at the time.

Spears — who is mom to sons Sean Preston, 16, and Jayden James, 15 (with ex-husband Kevin Federline) — began dating personal trainer and actor Asghari, 28, after they starred together in her "Slumber Party" music video in 2016.

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"The couple made their long-standing relationship official today and are deeply touched by the support, dedication and love expressed to them," Cohen said.

They announced their engagement in September, before her conservatorship was terminated in November. Asghari's manager Brandon Cohen told PEOPLE that he is "proud to celebrate and confirm the engagement."