Rod Stewart's exes Rachel Hunter and Alana Stewart attend event together as each other's date

Rod Stewart's ex-wives have once again shown the world that they are on excellent terms ...

Rachel Hunter and Alana Stewart stepped out together at the Wallis Annenberg Center for the Performing Arts in Los Angeles over the weekend and you would be forgiven for thinking they were the best of friends.

Appearing in cheerful spirits as they wrapped their arms around each other, the duo look like they haven't aged a day!

Alana, now 74, looked stunning in a beautiful black gown.

The American actress  - who was married to the Maggie May singer from 1979 to 1984 and shares daughter Kimberly Stewart and son Sean Stewart with her ex-husband - styled her blonde hair loosely and accentuated her striking features with just a hint of black eyeliner and baby pink lip gloss.

Looking equally as youthful, Rachel - who was Rod's wife from 1990 to 2006 and shares children Renee Stewart and Liam Stewart with him - let her curly locks run wild and opted to wear minimal makeup for the star-studded event.

This was the second time in as many weeks that Rachel, 50, and Alana, 74, hung out together.

The ladies recently met up for the 40th birthday of Alana and Rod's socialite daughter, Kimberly.

The 74-year-old rocker went viral after posing with his two former wives, his current wife Penny Lancaster - who he married in 2007 - and his ex-girlfriend Kelly Emberg (who he was with between 1983–1990) for one awesome blended family photo.

"#happybirthday @thekimberlystewart! Can't believe you are 40! You looked radiant last night! #birthdaybash. A mother's reunion!" Kelly captioned the happy snap on Instagram.

Meanwhile, Rod admitted he deeply regrets the way he used to break off relationships in his earlier days because it wasn't until Rachel walked out on him that he understood how devastating heartbreak could be.

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• Rod Stewart performs beautiful 'Forever Young' duet with his daughter
• Penny Lancaster shares a rare photo of Rod Stewart with all four of his sons

He said: "I haven't treated women badly but I'm not proud of the way I broke up relationships. I was a real coward.

"It wasn't like Phil Collins. I didn't send an email but I've left a lot of broken hearts. I've apologised or at least tried to since.

"When Rachel left me, I didn't have the tools to cope with a break-up. I went to pieces. It was terrible. If ever karma got me back, it was then.

"The other day, one of my boys had his heart broken and I said, 'Well, it's just as well it happened now because it happened to daddy late in life and I didn't have the hammer and nails and drill to deal with it'. You can't go over it, under it, round it. One of my daughters is in the same position right now having broken up with somebody. I told her: 'You've just gotta be brave, nothing lasts forever.' "