Friends of Chelsea Handler and Jo Koy are hoping they'll rekindle their romance.

"Their friends are hoping they can still work it out," a source tells PEOPLE exclusively. "But if anything, it's clear their relationship has changed them both for the better."

Handler, 47, announced the couple's split on Instagram Monday. Sharing a video that was intended to go live on their one-year anniversary, the former Chelsea host wrote: "It is with a heavy heart to announce that we have decided together that it is best for us to take a break from our relationship right now."