LG, you're getting some good advice here. Don't be rash. Don't push for anything. Sit tight and let her stew a bit. If you don't want a divorce or separation, then don't make it happen and don't facilitate. This is not about punishing her. This is about removing the buffers and making HER face the consequences of her actions.
You don't have to be ugly. Be civil and kind-- but be very clear that if there is to be a D, SHE will have to make it happen and that you will NOT be friends with her after. Take the moral high ground, by all means. But let HER be the one to do the hard work of breaking up this marriage. Don't rush anything. She has a lot to think about.
BTW, I add my "bravo" also.
Greeneyed Lass's husband did not have an affair. He was viewing internet porn and emailing some people on adultfriendfinder. All the while he was NOT very interested in sex with her.