Report: Will Smith and Jada SEPARATE

Will Smith and Jada Pinkett Smith have separated ... this according to In Touch Weekly.

Will and Jada have been married for 13 years and have two extremely famous children together -- Jaden and Willow.

Will has another son, Trey, from a previous marriage.

TMZ placed a call to Jada's rep, Karynne Tencer, who told us ... "What? In Touch said that? I know nothing about this ... Lord. I'm going back to bed."

Curious reaction.