Sub SplitItalic()
    Selection.HomeKey wdStory
    With Selection.Find
        .ClearFormatting
        .ClearHitHighlight
        .Text = ""
        .Font.Italic = True
        While (.Execute)
            If Not Selection.Characters.First.Previous.Font.Italic And _
                Selection.Characters.First.Previous.Text Like "[! ,.:;?!-]" Then
                Selection.InsertBefore " "
            ElseIf Not Selection.Characters.Last.Next.Font.Italic And _
                Selection.Characters.Last.Next.Text Like "[! ,.:;?!-]" Then
                Selection.InsertAfter " "
            End If
        Wend
    End With
End Sub