Chris Squire, co-founder and bassist of the rock band "Yes," died at the age of 67 after battling Leukemia, People magazine reported.

Squire's death was first confirmed after the band posted on their official Facebook page that Squire has "peacefully passed away" at his home in Phoenix on Saturday, June 27.

Earlier in May, Squire broke out the news to the public that he had been suffering from acute erythroid leukemia, a very rare form of myeloid leukemia. He also went through frequent treatments before he passed away.

Though no further details about his death were provided, the remaining members of the band announced the news with 'unbearable sadness.' "It's with the heaviest of hearts and unbearable sadness that we must inform you of the passing of our dear friend and Yes co-founder, Chris Squire," a statement released from Steve Howe, Alan White, Jon Davison and Geofff Downes.

On Twitter, Downes relayed the sad news to his followers, writing, "Utterly devastated beyond words to have to report the sad news of the passing of my dear friend, bandmat and inspiration Chris Squire. #yes"

Squire, who co-founded the rock band with the former lead vocalist Jon Anderson, was the only band member to have played on all of the "Yes" albums.

"For the entirety of 'Yes' existence, Chris was the band's linchpin and, in so many ways, the glue that held it together over all these years," they wrote on the band's statement. "Because of his phenomenal bass-playing prowess, Chris influenced countless bassists around the world, including many of today's well-known artists."

The talented bass guitarist was also one of the leaders of the progressive rock back in the 1970s. He was also a choir member during his youth, which built a strong foundation of his skills as a musician.

Squire had launched his 1975 solo album "Fish Out Of Water" and had also played in the short-lived group XYZ (eX-Yes-Zeppelin).

The Grammy-award winning band also had hits that scored no. 1 on the Billboard pop charts in the 1980s, including the "Owner of a Lonely Heart" and the "Roundabout".

'Yes' will be having its U.S tour with Toto this coming August and Billy Sherwood will temporarily fill in for Chris Squire.

Squire is survived by his wife Scotland and his five children Carmen, Camille, Cameron, Chandrika and Xilan.