After releasing three albums over its six-year run as a band, the misleadingly named, piano-driven trio Ben Folds Five [ tickets ] is breaking up. The amicable split came about because the band�s members felt the act had run its course and wanted to pursue other interests, band manager Alan Womark announced.

"The band is splitting on good terms," pianist-singer Ben Folds said in a statement. "We are very proud of our three albums, our little hit and our audience. Now it is time to bow out with dignity rather than to make that final 'cash-in' record and tour which, of course, is very tempting."

Folds, who lives in Australia, is recording a new record with producer Ben Grosse that is scheduled for release on Epic Records next spring. A new Folds track titled "Lonely Christmas Eve" appears on the soundtrack CD for the film "How the Grinch Stole Christmas," which is due in stores on Tuesday (11/7). In addition, another Folds song titled "Wandering" will be in the forthcoming independent film "100 Girls."

Drummer Darren Jessee is assembling a band and has been playing his own new material on the New York club circuit for the past year, according to Ben Folds Five�s publicist.

Bassist Robert Sledge is currently putting together a new group and is producing bands in his Chapel Hill, N.C., studio. Sledge has toured with ex-Squirrel Nut Zippers member Tom Maxwell and his band the Minor Drag.