The square with vertices $(-1, -1)$, $(1, -1)$, $(-1, 1)$ and $(1, 1)$ is cut by the line $y=\frac{x}{2}+ 1$ into a triangle and a pentagon.

The square with vertices $(-1, -1)$, $(1, -1)$, $(-1, 1)$ and $(1, 1)$ is cut by the line $y=\frac{x}{2}+ 1$ into a triangle and a pentagon. What is the number of square units in the area of the pentagon? Express your answer as a decimal to the nearest hundredth.