President Barack Obama and First Lady Michelle Obama are headed for splitsville!

That's the latest report from the National ENQUIRER, who claims the Obamas are planning to end their marriage when the President's term is over in 2016 — and what's more, the adored couple is even eyeing a new $5 million home they could share with separate bedrooms.

After spending Father's Day together in Palm Springs, Calif., Barack and Michelle found a lavish home that could be the First Couple's first purchase on the road to separation.

"Even after the split, they plan to maintain family ties and are considering buying the house," a close source told the ENQUIRER.

"It's a 'neutral' place so they can all meet there despite Michelle and Barack's differences. The Obamas learned of the lavish Rancho Mirage residence when they visited the area over the Father's Day holiday with daughter Malia."

What's more, the report claims that Barack walked out on the family on Father's Day in favor of a five-hour golf outing at a private course.

And there was more drifting between the couple that weekend, with The President spending most of the Saturday at a Democratic fundraiser in Laguna Beach and then giving a commencement speech in Irvine at the University of California — along with more golfing once back in Palm Springs.

The ENQUIRER was first to report that Barack and Michelle are on the rocks, alleging the First Lady has already met with divorce lawyers.