We introduce a new model to explain the modulation of the orbital period observed in close stellar binary systems based on an angular momentum exchange between the spin of the active component and the orbital motion. This spin-orbit coupling is not due to tides, but is produced by a non-axisymmetric component of the gravitational quadrupole moment of the active star due to a persistent non-axisymmetric internal magnetic field. The proposed mechanism easily satisfies all the energy constraints having an energy budget about 100-1000 times smaller than those of previously proposed models and is supported by the observations of persistent active longitudes in the active components of close binary systems. We present preliminary applications to three well-studied binary systems to illustrate the model. The case of stars with hot Jupiters is also discussed showing that no significant orbital period modulation is generally expected on the basis of the proposed model.