Keyshia Cole -- Separated from 'Boobie' Gibson ... We Co-Parent Our Son

After months of rumors ... from adultery to divorce ... Keyshia Cole has finally confirmed she and her NBA star husband 'Boobie' Gibson are separated.

Cole appeared with The Breakfast Club on Power 105.1 in New York this morning and when asked about the current status of her relationship with Gibson said, "We co-parent."

Cole implied that she and the Cleveland Cavaliers star are living apart -- and that he comes to her home at 8:30 AM every morning to pick up their son to take him to school. Cole says she picks the kid up at the end of the day ... adding, "We good."

Cole wouldn't say if either side has filed divorce docs yet -- but said the two still care for each other.