Looks like we have another cheater exposed.

TMZ.com reported that King filed for divorce yesterday from his wife Shawn Southwick, 50.

Larry blames the split on “irreconcilable differences.”

The couple married way back in 1997. They have two sons together.

Larry’s soon to be ex-wife Shawn also filed for divorce, according to TMZ.com.

Her attorney, Joe Mannis, put in her papers a few minutes after Larry’s.

Shawn also cites “irreconcilable differences” as her reason for the divorce.

She’s seeking primary physical custody of their two boys, as well as spousal and child support. She also wants property and the couple’s house in Beverly Hills.

TMZ says the divorce was precipitated by a massive argument over Larry’s faithfulness.

According to RadarOnline.com, Shawn accused Larry of sleeping with her younger sister, Shannon Engemann, 45.

Inside sources say Larry bought Shannon a $160,000 car and spent more than one million dollars on her.

Shannon, however, told TMZ.com, “I did not have an affair with Larry. He’s been like a father to me.”