A source tells PEOPLE the pair are back together. Additionally, the Rocky actor's rep told Page Six Friday, "They decided to meet back up at home, where they talked and were able to work out their differences. They are both extremely happy."
The reconciliation news comes days after a Palm Beach County, Florida, court filing said both Flavin, 54, and Stallone, 76, agreed "that is in the best interests of each of them individually, and more importantly collectively as a family, to resolve all issues attendant to the dissolution of their marriage in a dignified, amicable and private manner out-of-court."
The couple, who married in May 1997, share daughters Scarlet, 20, Sistine, 24, and Sophia, 26.
Flavin had filed a petition "for dissolution of marriage and other relief" from Stallone just over a month ago, on Aug. 19. She alleged that Stallone "engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate," which he denied.
Stefanie Keenan/Getty Sylvester Stallone and Jennifer Flavin
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After her divorce filing, Flavin told PEOPLE exclusively, "I'm sad to announce that after 25 years of marriage I have filed for divorce from my husband Sylvester Stallone. While we will no longer be married, I will always cherish the more than 30-year relationship that we shared, and I know we are both committed to our beautiful daughters. I ask for privacy for our family as we amicably move forward."
The Rambo actor also said in a statement at the time, "I love my family. We are amicably and privately addressing these personal issues."
This past Monday, Stallone took a walk down memory lane on Instagram, sharing a throwback photo of himself holding hands with his estranged wife. In addition to the snapshot of the pair, Stallone shared an old family photo of himself, his wife and their three daughters. He captioned the post, "Wonderful ... "