The New-York born beauty has bought herself a £1.5million apartment in Manhattan, according to MailOnline, sparking speculation that the couple have permanently gone their separate ways.
Born as Kristin White, Princess Khaliya converted to Islam and adopted her new name for her marriage to the prince in September 2006. The couple met while they were students at Columbia University.
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At the time, HELLO! Magazine covered the royal nuptials that started with a traditional Muslim ceremony at the Chateau of Chantilly just outside Paris, followed by a private civil ceremony.
Princess Khaliya drew gasps of admiration as she made her entrance, draped in an ivory and gold traditional dress, and completed her exquisite look with precious hair jewels. After the service friends and relatives burst into enthusiastic applause, showering the couple with confetti.
The wedding party then carried on with celebrations at the father of the groom's sprawling estate Aiglemont, in Gouviex. The Aga Khan, who is known as a keen philanthropist and horse breeder as well as the spiritual leader of the Shia Ismaili Muslims, has an estimated fortune of £9billion.
News of Prince Hussain's divorce to Princess Khaliya comes just days after the Aga Khan's eldest son married his American sweetheart, model Kendra Spears.
Kendra, who has now taken on the new title of Princess Salwa, wed Prince Rahim in a picturesque service in the grounds of the Château de Bellerive, overlooking the shores of Lake Geneva in Switzerland.
The model, who has been compared to Cindy Crawford for the mole on her upper lip, has worked for respected fashion houses such as Chanel, Louis Vuitton and Dolce & Gabbana.