updated 10/04/2011 AT 9:00 AM ET
•originally published 10/04/2011 AT 5:00 PM ET
“We’re very honest,” the actor, 40 – who is separated from wife Courteney Cox – told PEOPLE backstage after Monday night’s Dancing with the Stars. “I’m very honest [with her] about myself and what I’m doing.”
Arquette wasn’t too forthcoming when it came to discussing his new leading lady – a correspondent for The Insider who was married to Girls Gone Wild creator Joe Francis – but he did say the relationship is in a good place.