Michael Sheen, Lizzy Caplan

Showtime has renewed hit dramas Masters of Sex and Ray Donovan for 12-episode third seasons, the network announced Wednesday.

"Both Ray Donovan and Masters of Sex are quintessentially Showtime: bold, provocative, premium television with production values at the top of the food chain," Showtime President David Nevins said in a statement. "These acclaimed shows are filled with complex and interesting characters and settings that will no doubt give audiences compelling television to invest in for seasons to come."

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Masters of Sex stars Lizzy Caplan and Michael Sheen as real-life sex researchers Virginia Johnson and William Masters, and follows the pair as their working relationship evolves into a personal affair.

The crime drama Ray Donovan stars Liev Schreiber as the titlular character, a "fixer" who works for a powerful law firm in Los Angeles.

Ray Donovan and Masters of Sex air Sunday nights on Showtime.

(Full disclosure: TVGuide.com is owned by CBS, Showtime's parent company.)

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