Evidence for a stochastic gravitational wave (GW) background, plausibly originating from the merger of supermassive black holes (SMBHs), is accumulating with observations from pulsar timing arrays. An outstanding question is how inspiraling SMBHs get past the "final parsec" of separation, where they have a tendency to stall before GW emission alone can make the binary coalesce. We argue that dynamical friction from the dark matter (DM) spike surrounding the black holes is sufficient to resolve this puzzle, if the DM has a self-interaction cross section of order cm^{2}/g. The same effect leads to a softening of the GW spectrum at low frequencies as suggested by the current data. For collisionless cold DM, the friction deposits so much energy that the spike is disrupted and cannot bridge the final parsec, while for self-interacting DM, the isothermal core of the halo can act as a reservoir for the energy liberated from the SMBH orbits. A realistic velocity dependence, such as generated by the exchange of a massive mediator like a dark photon, is favored to give a good fit to the GW spectrum while providing a large enough core. A similar velocity dependence has been advocated for solving the small-scale structure problems of cold DM.